State personal income grew 1.3 percent on average in the third quarter of 2015, the same pace as in the second quarter, according to estimates released today by the U.S. Bureau of Economic Analysis. Connecticut’s personal income growth matched the national average.
Connecticut was ranked 27th in the nation for personal income growth. Last quarter its growth increased 1.5 percent.
The state exceeded the national average in professional services with an increase of 1.9 percent. Earnings in professional services grew 1.7 percent in the third quarter following a 1.8 percent rise in the second nationally.
Connecticut saw its earnings in health care grow 1.5 percent. Nationally earnings in health care grew 1.6 percent in the third quarter following a 1.4 percent increase in the second.
Overall, earnings increased 1.4 percent in the third quarter of 2015, after increasing 1.2 percent in the second quarter. Earnings grew in 23 of the 24 industries for which BEA prepares quarterly estimates, with farming, professional services, health care, finance, and retail trade contributing the most to third-quarter personal income growth (table 3). Mining earnings fell for the third consecutive quarter.
