MO personal income grows 1.2% in 3Q

Missouri was among states to show personal income growth during the third quarter, according to data from the Bureau of Economic Analysis.

The state's personal income grew 1.2 percent for the quarter compared to the prior year, eclipsing the all-state average of 1.1 percent growth. Personal income is defined by the BEA as the income received by all residents from all sources, according to a news release.

Missouri's personal income grew to $243.5 billion, up from $234.2 billion in third-quarter 2012.

During the third quarter, personal income growth slowed in 25 states, accelerated in 22 and was unchanged in three and Washington, D.C. Growth ranged from 0.4 percent in New Mexico to 1.9 percent in Mississippi, according to the release.[[In-content Ad]]