Wednesday, September 19, 2018
Business

Household spending in Florida jumped 5 percent in 2015, most in the country

Remember frugal Florida? It's disappearing fast.

Household spending jumped 5 percent in Florida last year, the biggest surge in the country, according to government data released Tuesday morning. The next-highest increases came in Oregon and Colorado, both up 4.9 percent.

Nationwide, what the U.S. Bureau of Economic Analysis classifies as "personal consumption expenditures" — the measure of goods and services purchased by or on behalf of households — slowed its growth to 3.6 percent on average in 2015 from 4.4 percent growth in 2014.

Across all states and the District of Columbia, average household spending was $38,196 in 2015, ranging from a high of $49,717 in Massachusetts to a low of $29,330 in Mississippi. Despite the increase, Florida's per capita spending totaled $37,020, slightly below the national average.

Florida's latest spending surge was tied in part to how much more expensive it is getting to put and keep a roof over your head in the Sunshine State.

Expenses for housing and utilities jumped 5.9 percent in Florida last year to $7,018, tied with Colorado for second-biggest increase in the country behind North Dakota.

Nationally, costs for housing and utilities rose 4.2 percent last year.

In 2014, Florida's consumer spending actually grew at a faster pace — 5.4 percent — but overall U.S. growth was faster that year.

Contact Jeff Harrington at [email protected] Follow @JeffMHarrington.

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