N.H. 2Q personal income rises 1%
New Hampshire's total personal income rose 1 percent, to $62.04 billion, in the second quarter of 2012, up $641 million from the first quarter. The 1 percent quarterly increase ranks the state 20th nationally in total personal income growth, according to figures from the U.S. Bureau of Economic Analysis, which defines personal income as the income derived by all people from all sources. Personal income in the Granite State is up 2.2 percent over the same quarter last year, when it totaled $60.68 billion.
Elsewhere in New England, only Massachusetts saw greater personal income growth in the second quarter, rising 1.2 percent, while Rhode Island also had a 1 percent gain. Connecticut, Maine and Vermont all had gains of 0.9 percent.
North Dakota and South Dakota ranked first and second best in personal income growth, with respective gains of 2.1 percent and 2 percent, while New Mexico saw the country's smallest gain of 0.4 percent.
New Hampshire industries that saw the greatest dollar growth in the quarter were: finance and insurance, up $240 million from the first quarter; wholesale trade, up $205 million; information, up $186 million; and durable goods manufacturing, up $124 million.
The industries that saw a quarterly decline in total dollar value were state and local government, down $10 million from the previous quarter; farming, down $4 million; military, down $2 million; and non-durable goods manufacturing, down $1 million.