State Personal Income: Third Quarter 2014

State personal income growth averaged 1.0 percent in the third quarter of 2014, down from 1.2 percent in the second quarter, according to estimates released today by the U.S. Bureau of Economic Analysis. Growth in personal income–the sum of net earnings by place of residence, property income, and personal current transfer receipts–slowed in 38 states and in the District of Columbia. The percent change across states ranged from -0.2 percent in South Dakota (the only state with a decline) to 1.4 percent in Texas. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 0.3 percent in the third quarter from 0.6 percent in the second quarter.