Missouri’s personal income grows

The Show-Me State’s second-quarter personal income increased 0.7 percent to $266.6 billion from $264.8 billion in the first quarter.

Based on percentage change, Missouri ranked 31st among the states, according to a news release from the U.S. Bureau of Economic Analysis. Personal income is determined by adding together net earnings, dividends, interest and rent, and transfer payments.

Missouri’s personal income growth was in line with the United States average, which also grew 0.7 percent between the second and first quarters. The U.S. average was $16.4 trillion for the latest quarter. The Show-Me State tied for first with Nebraska in percentage change among the seven states in the BEA’s Plains region.

Compared with the same three-month period a year earlier, Missouri’s second-quarter personal income was up 1.7 percent from $262 billion, according to the release.