Mo. personal income grows 3.2% in 2Q

Missouri's overall personal income level grew 3.2 percent to $252.9 billion in the second quarter, compared to $245.1 billion a year earlier, the U.S. Bureau of Economic Analysis reports.

The Show-Me State was among 36 states to realize second-quarter growth compared to the first quarter, according to a news release. Average state personal income increased 1.5 percent, while inflation accelerated by 0.6 percent.

Second-quarter personal income nationwide rose 3.9 percent to $14.7 trillion from $14.1 trillion in the same quarter of 2013.

Missouri's personal income in the second quarter rose 1.6 percent from the first quarter, ranking it 19th among states in terms of growth, according to the release.

The BEA defines personal income as the sum of net earnings by place of residence, property income and personal current transfer receipts.[[In-content Ad]]