Connecticut residents’ wages and other forms of income grew 1.3 percent in the second quarter, the largest jump since the fourth quarter of 2012, according to data released Tuesday by the U.S. Bureau of Economic Analysis.
The state’s so-called pre-tax personal income grew to $224.46 billion from the first to the second quarter of this year. That was up from a revised first-quarter total of $221.64 billion.
It was the first time since the quarter of 2012 that Connecticut’s personal income grew by 1 percent or greater for two consecutive quarters.
Contributing the most to the quarter-over-quarter growth were some of the state’s largest industry sectors: Durable goods manufacturing, health care and social services, and professional services.
The federal government uses personal income data as a basis for allocating funds and determining matching grants to states, while state officials use the numbers to project tax revenue and public service needs, according to BEA.
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