ND personal income growth tops in nation in 2Q
BISMARCK, N.D. (AP) — A thriving agriculture industry helped push North Dakota to tops among states in personal income growth in the second quarter of the year.
Estimates released Friday by the U.S. Bureau of Economic Analysis show personal income in North Dakota up 1.5 percent.
That compared with a 0.2 percent growth nationwide, which the bureau said was offset by inflation. It was the first growth in a year for the U.S. and for 15 states.
Overall, personal income increased in the second quarter in 36 states. The bureau said federal economic stimulus money and rising unemployment benefits were the main reasons for the increase in all of those states except North Dakota, where the farm sector was the main factor.
Net earnings and property income declined in every state except North Dakota, where net earnings grew 0.9 percent, and in Iowa, where they were unchanged.
Copyright 2009 The Associated Press.