Utahns' personal income increases by 1.2 percent

Utahns' personal income grew by 1.2 percent in the first quarter of this year, less than half the 2.5 percent growth they saw in the first quarter of 2007, according to estimates released Thursday by the U.S. Bureau of Economic Analysis.

Nationally, personal income grew 1.1 percent in the first quarter of 2008, compared with 2.4 percent in the first quarter of 2007. Utah's personal income growth was ranked 14th in the nation for the first quarter of this year.

Personal income is all income received by all persons from all sources. It's the sum of net earnings by place of residence, rental income, personal-dividend income, personal-interest income and personal current-transfer receipts.