Missouri’s personal income growth up by 1.7 percent

Personal income came in at $184.42 billion, compared to $181.41 billion in the preceding quarter. The rate of growth was more than triple the revised increase rate of 0.5 percent rate of increase for the first quarter.

The state’s personal income growth rate outpaced the national rate of 1.5 percent and ranked 15th in the country. The highest increase in personal income growth was in Nevada at 2.6 percent, while South Dakota ranked the lowest at 1 percent.

Personal income is determined by net earnings, dividends, interest and rent, and transfer payments.

Durable goods manufacturing topped percentage income increases by industry at 0.21 percent, followed by professional and technical services, and health care and social assistance, both up by 0.19 percent. State and local government income increased by 0.16 percent, and real estate and rental and leasing was up by 0.12 percent.