December 19, 2013
Personal income growth rises 1.1%
Personal income growth in Maine rose 1.1% in the third quarter of 2013 from the previous quarter, marking two consecutive quarters of growth.
According to the U.S. Bureau of Economic Analysis, preliminary estimates put Maine’s total personal income at $54.9 billion, up from $54.3 billion during the previous quarter and up from $53.3 billion one year ago.
All components of personal income rose for the last quarter in Maine with dividends, interest and rent up $171 million, net earnings up $256 million and transfer receipts up $194 million.
Maine ranked 17th nationally for percentage growth from the second to the third quarters of 2013.
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