Personal income growth in Maine declined in the third quarter, the result of factors including a sharp decline in income growth unrelated to household wages, the U.S. Bureau of Economic Analysis said Friday.

Quarterly income growth in the state was 0.8 percent, down from 1.2 percent in the second quarter, the bureau said.

Maine was not alone among states that experienced a decrease in personal income growth – it slowed in 38 states and the District of Columbia, according to the bureau. Still, 34 states and D.C. experienced growth increases or slower declines than Maine, it said.

Personal income is the sum of household wages, property income, and other income not related to specific work, such as government or dividend checks.

Total wages in Maine increased to $25.64 billion in the third quarter from $25.41 billion the previous quarter, an increase of 0.9 percent. That quarterly growth was slightly higher than the 0.8 percent wage growth in the second quarter.

However, growth in personal current transfer receipts slowed considerably in Maine, according to the bureau. Personal current transfer receipts are payments for which no services are performed, such as disability and unemployment insurance benefits, Medicare and Medicaid payments, federal grants and student loans, and liability payments for personal injury.

Personal current transfer receipts in Maine increased to $13.01 billion in the third quarter from $12.92 billion the previous quarter, an increase of 0.7 percent. That quarterly growth was far less than the 1.5 percent growth in the second quarter.

Dividend, interest and rent income in Maine increased to $9.86 billion in the third quarter from $9.78 billion the previous quarter, an increase of 0.8 percent. That was less than half the 1.7 percent quarterly growth in such income in the second quarter.

J. Craig Anderson can be contacted at 207-791-6390 or:

[email protected]

Twitter: jcraiganderson

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