Matched with Texas, Colorado has the second-highest growth in personal consumption expenditures (PCE), with this being the first report released since the data has been collected since 1997.
The report showed that Colorado and Texas PCE grew by 5.7%, only behind North Dakota's PCE growth of 7.4%. Even with the second fastest growth rate, Colorado's per capita PCE numbers fell in the middle with an average of $39,219. While North Dakota residents spent between $41,469 to $55,141 per person.
Nationwide, much of that total PCE were driven by housing and utilities, growing by 4.1 percent in 2014. Health care followed closely behind, with a 3.9 increase in total PCE in 2014.