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State Personal Income: Second Quarter 2009

News release, October 16, 2009: “U.S. personal income grew 0.2 percent in the second quarter of 2009, the first growth in a year for the U.S. and for 15 states, according to estimates released today by the U.S. Bureau of Economic Analysis. In the first quarter, U.S. personal income fell 2.3 percent. U.S. personal income growth was offset by inflation, as measured by the national price index for personal consumption expenditures, which rose 0.3 percent in the second quarter after falling 0.4 percent in the first quarter. Personal income increased in the second quarter in 36 states after falling in all states except Maryland in the first quarter. The percent change in second quarter personal income ranged from 1.5 percent in North Dakota (where the farm sector accounted for a large portion of growth) to -1.0 percent in Wyoming (with large losses in mining).”

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