Minorities’ Buying Power Rises, Study Finds

Buying power among blacks, Asian Americans and American Indians has skyrocketed in the past decade, a University of Georgia study said. Disposable income for the three groups is projected to reach $860 billion in 2001, up more than 95% from $400 billion in 1990, it said. Buying power for Hispanics--which the study considered separately from the other groups--was projected to more than double to $452 billion from $207.5 billion in 1990. Overall buying power in the United States has increased by 70% over the same period. The study, an analysis of Census Bureau data and government economic statistics, looked at the amount of spending money available after taxes. Among the four minority groups, Asian Americans led the way with a nearly 125% jump in buying power to $254 billion over the 11-year period. Buying power among blacks rose 86% to $572.1 million and among American Indians rose 81% to $34.8 billion.