PROVIDENCE – Rhode Island personal income increased 3.1% year over year in the third quarter of 2019, seasonally adjusted, ranking 39th for growth rate among all states in the country, the U.S. Bureau of Economic Analysis said on Wednesday.
Rhode Island’s increase was the fourth fastest rate of increase in New England, where overall, personal income increased 2.9% year over year in the quarter.
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The United States experienced a 3.8% increase in personal income year over year in the third quarter.
Other New England personal income increases in the quarter:
- Maine: Increased 3.4% (No. 31 nationally) to an annualized $68.8 billion
- New Hampshire: Increased 3.4% (No. 34 nationally) to an annualized $87.4 billion
- Vermont: Increased 3.2% (No. 38 nationally) to an annualized $35.5 billion
- Massachusetts: Increased 2.9% (No. 41 nationally) to an annualized $519.5 billion
- Connecticut: Increased 2.6% (No. 44 nationally) to an annualized $284 billion
South Dakota has the largest year over year increase rate of personal income, rising 15.2% to an annualized $48.6 billion.
