General Information

Graph Legend

  • Billion = In Billions of Dollars
  • Million = In Millions of Dollars
  • Current = In Year 2010 Dollars
  • 2000 = In Year 2000 Dollars

Why Do We Measure the Personal Consumption Expenditures?

Personal Consumption Expenditures?

Why Do We Measure Personal Consumption Expenditures?

How much we spend on personal items is about 2/3 of the total Gross Domestic Product, with business and government expenditures being the remaining third. Calculating personal expenditures allows the best view on what goods and services Maryland families are buying.

Trends

As personal expenditures are closely linked with GDP/GSP, personal consumption spending positively parallels GDP/GSP data.

Office of Governor

Actions Taken
by Governor O'Malley

Investing in Biotech

Maintaining a firm position as a global bioscience leader, Governor Martin O'Malley and the Maryland legislature created the Life Sciences Advisory Board in 2007. The plan calls for $1.3 billion in structured investments over 10 years and is part of an integrated vision of bio-entrepreneurial development and commercialization initiatives. Today, Maryland's bioscience research complex receives nearly $8 billion in expenditures.

Maintaining Maryland's Great Credit

Maryland has retained its AAA bond rating from the three New York bond rating agencies, demonstrating that sound financial management is possible even in tough economic times. The high rating means the State will pay lower interest rates on the bonds, which will finance large capital projects such as schools and higher education projects. The bond rating score reflects the State's current fiscal and economic strength, as well as its future development potential.

Providing a Living Wage

Governor Martin O'Malley signed a bill into law establishing Maryland's Living Wage, effective October 1, 2007. The Living Wage Law requires certain contractors and subcontractors to pay minimum wage rates to employees working under certain State services contracts.