Mainers income jumped in the first quarter, but its economic output declined. The Bureau of Economic Analysis reported Friday the personal income of Mainers rose at a 6.7% annual rate in the first quarter of this year. But the state's gross domestic product fell at a 1.2% rate.
The information and Real Estate sectors did increase their economic output in the January-to-March quarter. But the state's output was pulled down by declines in wholesale and retail trade and the Finance and Insurance sectors.
The gain in Mainers income during the first quarter came mostly from government payments and dividend, interest, and rent payments.
