March 23, 2009 - Consumer spending on flowers and plants at the retail level reached $20.91 billion in 2008, compared to $20.56 billion in 2007, an increase of 1.7 percent, according to updated statistics from the U.S. Department of Commerce's Bureau of Economic Analysis.
Consumer spending on flowers and plants at the retail level reached
$20.91 billion in 2008, compared to $20.56 billion in 2007, an increase
of 1.7 percent, according to updated statistics from the U.S.
Department of Commerce's Bureau of Economic Analysis.
In 2007, consumption grew at about the same rate (1.5 percent), a slowdown from the previous two years, in which the growth rates exceeded five percent.
Monthly sales dipped in the last quarter of 2008 below levels seen in 2007, as the recession deepened and unemployment soared The strength in the second and third quarters of last year evaporated in October.
Per person, spending on floral products reached $68.76 in 2008, up from $68.18 (revised) in 2007, an almost 1 percent increase. The growth rate of floral spending has slowed from the 4 percent increases seen in 2005 and 2006.
The Commerce Department updates these figures monthly.
|
