Minnesota leads in income, spending growth
- Associated Press
- August 7, 2014 - 12:35 PM
MINNEAPOLIS — New economic data is confirming Minnesota's status as a top performer among Upper Midwest states.
The U.S. Department of Commerce for the first time is releasing state-by-state breakdowns of personal income and consumption.
North Dakota is the runaway growth leader nationally and regionally thanks to its oil boom, with double-digit gains.
Minnesota's per capita personal income rose 4 percent to almost $47,000 in 2012, the latest year available. Wisconsin's per capita income rose 3.6 percent, Iowa's 3.4 percent and South Dakota's 1.2 percent.
Minnesota's per capita consumer spending also outpaced that of Wisconsin and Iowa.
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