Personal income in Maine rose 1.1 percent in the first quarter, on par with national income growth.

Maine’s personal income increased to $59.8 billion in the first three months of 2017, compared with about $59.1 billion in the last quarter of 2016, according to statistics released Tuesday by the U.S. Department of Commerce’s Bureau of Economic Analysis. Maine’s personal income growth was ranked 20th out of the 50 states for the first quarter.

Nationwide, personal income grew 1 percent, compared with 0.3 percent in the last quarter of 2016, according to the bureau.

Maine’s income growth was driven by a 2.2 percent increase in transfer receipts – income from programs like Social Security, Medicare, Medicaid and veterans benefits. Net earnings, including salaries, wages, bonuses and business owner income, rose 0.9 percent, while investment income rose 0.6 percent.

Construction earnings led the way in the first quarter, with a 0.18 percent increase, while earnings from health care and social assistance rose by 0.10 percent.

Forestry and fishing earnings were the biggest drag on state income, dipping 0.03 percent from the previous quarter.

Maine tied with New Hampshire for quarterly income growth among the six New England states. Massachusetts, Rhode Island and Vermont rose by 1 percent, and Connecticut grew 0.9 percent.

Idaho had the fastest-growing personal income, at 1.6 percent, and Louisiana, Michigan, Florida and Texas grew by 1.3 percent. Income growth was slowest in Kansas, Minnesota, North Dakota and Iowa, and income contracted by 0.1 percent in Nebraska.

Peter McGuire can be reached at 791-6325 or at:

[email protected]

Twitter: PeteL_McGuire

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