September 26, 2017

CT 2Q personal income growth outpaces most of New England

Connecticut ranked 22nd in the nation for second-quarter personal income growth and second only to New Hampshire in New England, according to the latest federal statistics.

Connecticut's personal income totaled nearly $251.4 billion in the second quarter, an increase of eight-tenths of a percent over the $248.9 billion recorded in the second quarter of 2016, according to the U.S. Department of Commerce's Bureau of Economic Analysis BEA. That's just one tenth of a percent less than the growth rate in the first quarter of 2017, the BEA said.

On average, U.S. states' personal income grew 0.7 percent in the second quarter of 2017, after increasing 1.4 percent in the first quarter

New Hampshire ranked 14th, with a comparable growth rate of eight-tenths of a percent, followed respectively by Vermont (29th); Massachusetts (32nd); Rhode Island (33rd); and Maine (39th).

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