Home Economy Connecticut personal income up 4.6 percent in first quarter

Connecticut personal income up 4.6 percent in first quarter

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Connecticut residents enjoyed a 4.6 percent year-over-year increase in their personal income during the first quarter of this year, according to data from the U.S. Bureau of Economic Analysis.

Although Connecticut’s personal income was above the U.S. average of a 4.3 percent increase, the state ranked 27th in the nation. Washington led the nation with a 7.4 percent year-over-year gain, while Idaho trailed with an anemic 2.0 percent uptick.

During the first quarter, Connecticut’s personal income totaled $256.9 billion. Compared to its neighboring states, Connecticut outperformed New York’s 2.5 percent gain and Rhode Island’s 3.7 percent increase, but it was behind Massachusetts’ 5.0 percent gain.

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