The U.S. Bureau of Economic Analysis (BEA) Issued The Following News Release Yesterday

State personal income growth accelerated to 1.0 percent on average in the second quarter of 2016 from 0.3 percent in the first quarter, according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income grew in every state in the second-quarter with growth rates ranging from 0.4 percent in Alaska to 1.4 percent in Utah (table 1).
The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/regional/spi/sqpi_newsrelease.htm

In Utah, the state with the fastest growth in personal income, earnings grew 1.5 percent. Growth in transportation and warehousing earnings was the leading contributor (table 3).

In Nebraska and Idaho, the states with the second and third fastest growth in personal income, earnings grew 1.6 percent and 1.4 percent respectively. Growth in farm earnings made the largest contribution to overall earnings growth in both states.

In Oregon, with 1.3 percent growth in personal income, earnings grew 1.5 percent. Growth in management of companies and enterprises earnings made the largest contribution to personal income growth.

In Florida and Nevada, states with 1.2 percent growth in personal income, earnings grew 1.3 percent. Growth in healthcare earnings was the leading contributor to growth in Florida, and growth in accommodations and food services earnings was the leading contributor in Nevada.

For the nation, earnings grew in 22 of the 24 industries for which BEA prepares quarterly estimates. Health care, professional services, and transportation and warehousing were the leading contributors to overall growth in personal income.
Mining earnings fell 2.2 percent nationally in the second quarter, the seventh consecutive quarterly decline (table 5). Lower mining earnings was the leading contributor to below average earnings and personal income growth in four of the five slowest growing states: Alaska, Wyoming, Oklahoma, and North Dakota. Lower farm earnings was the leading contributor to below average earnings and personal income growth in South Dakota.
Updates to Personal Income. In addition to today's release of 2016 Q2 personal income, BEA also released revised quarterly and annual state personal income estimates for the 1998 Q1 to 2016 Q1 periods. Revisions are usually made each September to incorporate the results of the annual revision of the national income and product accounts (NIPAs), to incorporate state source data that are more complete and more detailed than those previously available, and to update the seasonal factors used for the quarterly estimates. In addition, this year's annual revision introduced two major methodological improvements affecting nonfarm proprietors' income that were discussed in the July 2016 issue of the Survey of Current Business: (1) improved geocoding and editing of source data from IRS Form 1065 (Partnership Returns) and Schedule C of Form 1040 (Sole Proprietor Returns), and (2) an improved method of allocating national control totals to states. A complete presentation and discussion of the data and revisions will be provided in the October 2016 issue of the Survey of Current Business.

Next release: December 20, 2016 at 8:30 A.M. EST – State Personal Income: Third Quarter 2016.