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.
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
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.