A depressed farm sector caused both Missouri and Illinois to lag the nation in second-quarter personal income growth, the Commerce Department reported Tuesday.
Missourians' incomes rose at a 4.6 percent annual rate in the April-June quarter, compared with 4.2 percent growth in Illinois. U.S. personal income rose 5.4 percent in the period, a slowdown from 6.2 percent growth in the first quarter.
Missouri's income growth has trailed the nation's in 12 of the 18 quarters since 2015. Illinois outperformed in only two of those quarters.
In Missouri, Illinois and the nation, income from interest, dividends and rent grew more rapidly than earnings from wages or business ownership.
Farm income declined, the Commerce Department said, because relief payments to farmers affected by Chinese tariffs were smaller in the second quarter than the first quarter. The department's personal-income map shows a swath of below-average growth in agriculture-dependent Midwest and Great Plains states.
In Missouri, the financial services industry was the largest contributor to first-quarter earnings growth. Illinois' largest growth contribution came from professional, scientific and technical services.