Personal consumption expenditures (PCE) rose in a range between 4.7% and 8.1% in all fifty states in 2023, according data released by the Bureau for Economic Analysis this Thursday.
Nationally the PCE rose 6.4% down from a 9.8% increase in 2022.
Health care expenditure was the largest contributor to growth in 33 states with 8.6% followed by housing and utility expenditure at 7.5%.
Per capita PCE per state ranged from $69,000 in Massachusetts to $42,131 in Mississippi with the District of Colombia registering a PCE of $92,000 .
The largest rise in 2023 was in Florida with 8.1% and the lowest in Iowa with 4.7%.
By Staff
