Saturday, July 21, 2007

Personal Income

New Mexico's heady climb up the income ladder of the past few years hit a snag during the first quarter of this year. Personal income grew 1.4 percent between the fourth quarter of 2006 and the first quarter of 2007. That was good for a tie for 42nd with Washington and Montana and a long way from the performance needed to pull the state from ranking in the forties. New Mexico has also returned to its place as the slowest performing state economy among its neighbors. State personal income increases during the first quarter were Arizona, 2.1%; Colorado, 2.1%; Texas, 1.8%; and Oklahoma, 1.7%.
Nationally, person income grew 2.2% for the three-month period. The numbers, subject to revision, are from the Bureau of Economic Analysis.

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