BEA State Personal Income: Second Quarter 2011

by Sabrina I. Pacifici on September 22, 2011

News release: “State personal income growth slowed to 1.1 percent, on average, in the second quarter of 2011, down from 2.1 percent in the first quarter, according to estimates released today by the U.S. Bureau of Economic Analysis. Growth rates ranged from 2.2 percent in Nebraska and South Dakota to 0.7 percent in the states of Washington and Georgia. Inflation, as measured by the national price index for personal consumption expenditures, decreased to 0.8 percent in the second quarter from 1.0 percent in the first quarter of 2011. The deceleration in the second quarter brought personal income growth back to the rate prevailing in the last two quarters of 2010. Personal income growth had been boosted 0.8 percentage point in the first quarter by a reduction in the personal contribution rate for social security, one of the provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.”

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