Column: Hoosiers’ spending in line with their lower wages

The good folks at the U.S. Bureau of Economic Analysis have come up with a new number, one we have never seen before.

Now, for the first time, we have personal consumption expenditures (PCE) for states, which means we also have per capita personal consumption expenditures since we already have population figures for the states.

This revelation is like an astronomer discovering a new planet. It will cause many regional economists to rewrite and rerun their equations.

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