Utah No.1 in 2nd quarter personal income growth

Thanks to a strong local economy, Utah's personal income grew faster than that of any state in the nation in the second quarter of 2007.

U.S. personal income grew at a 1.2 percent rate in the second quarter, according to estimates released Thursday by the U.S. Bureau of Economic Analysis. Utah personal income grew at a 2 percent rate, giving the state a No. 1 ranking in growth.

Utah, the agency noted, "had a notably higher growth rate in the second quarter and has grown substantially faster than all other states over the past year."

Coming in behind Utah was Washington, with 1.8 percent growth, and Texas at 1.7 percent.

New York, Connecticut and North Dakota saw notably slower growth than the rest of the nation.

Despite being 6.4 percent higher than the second quarter of last year, personal income growth throughout the country has slowed. In the first quarter of 2007, Utah experienced a 2.5 percent rate in growth, which was the same as the U.S. personal income growth rate.