MO 24th in 2Q personal income growth

Missouri's personal income growth was the 24th-highest in the country in the second quarter, according to a report by the U.S. Bureau of Economic Analysis.

Personal income in the Show-Me State grew by 0.4 percent to $213.1 billion, according to the report.

Gains in U.S. personal income were offset by inflation, according to the BEA.

National personal income totaled $12 trillion in the second quarter, up 0.2 percent from the previous quarter. That growth, however, was negated by a 0.3 percent increase in inflation as measured by the national price index for personal consumption expenditures.

Thirty-six states posted increases in the second quarter, with North Dakota posting the largest gain at 1.5 percent.

The news is not all positive, however. The BEA report states that the increase in every state except North Dakota is attributable to receipts of American Recovery and Reinvestment Act funds and rising unemployment benefits.

Other components of personal income - net earnings and property income - decreased in all but two of the 36 states where overall personal income increased.

Most of the earnings growth was in the government, health care and farming industries; earnings declined or were unchanged in 19 other industries tracked quarterly by BEA.