By Kimberley Donoghue PBN Web Editor Twitter: @kdonog
WASHINGTON - Rhode Island personal income increased 1.2 percent in the second quarter, according to estimates released by the Bureau of Economic Analysis Thursday.
Ocean State personal income grew to $46.04 billion in the second quarter from $45.07 billion in the first quarter. A year earlier it stood at $43.73 billion.
In New England, Maine experienced the slowest growth, at 1.0 percent; Connecticut matched Rhode Island at 1.2 percent; and New Hampshire came in at 1.3 percent. Massachusetts and Vermont both had 1.4 percent growth.
Nationally, state personal income growth slowed to 1.1 percent, on average, down from 2.1 percent in the first quarter.
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.
Growth rates ranged from 2.2 percent in Nebraska and South Dakota to 0.7 percent in Washington and Georgia.
PBN is now accepting applications for its newest award program and event for RI & Bristol County to celebrate the Manufacturing Renaissance that is evolving regionally and across the country. The deadline for applications is March 20th.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.