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Personal Consumption Expenditures by State, 2023

www.bea.gov·@HashtagPLUS·about 1 month ago
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Personal consumption expenditures (PCE) increased in all 50 states and the District of Columbia in 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change ranged from 8.1 percent in Florida to 4.7 percent in Iowa. Nationally, current-dollar PCE increased 6.4 percent in 2023 after increasing 9.8 percent in 2022 (table 1). PCE by state highlights Consumer spending on health care, housing and utilities, and food services and accommodations were the largest contributors to the increase nationally (table 3). Health care increased 8.6 percent nationally and was the largest contributor to growth in 33 states (table 2). Housing and utilities increased 7.5 percent nationally and was the largest contributor to growth in 16 states, including Florida and Arizona, the states with the largest increases in PCE. Food services and accommodations increased 10.4 percent nationally but was not the largest contributor to growth in any state or the District of Columbia.…

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