Arkansas? 4Q Real Personal Income Grows 3.1 Percent

For the fourth quarter of 2003, Arkansas was third out of seven regional states in real personal income growth, outpaced by Mississippi and Tennessee.

Arkansas showed significant improvement in the fourth quarter, climbing from 0.7 percent in 2002 to 3.1 percent personal income growth in 2003.

Overall in 2003, Arkansas ranked second in the region with a 10.5 percent increase, up from a 7.1 percent increase in 2002. Mississippi had a 12.3 percent increase for the year. The United States average was 6.8 percent personal income growth for the year, 3.7 percent behind the Natural State.

Arkansas ranked third in growth in 2002 behind Mississippi and Kentucky.

The Fed published the fourth-quarter numbers in the July issue of The Regional Economist banking magazine, which is published quarterly.

The seven-state area is a regional designation of the Eighth Federal Reserve District under the U.S. Federal Reserve Bank in St. Louis.