Real Consumer Spending Increased in March

pi_1Personal income increased 0.2 percent in March after increasing 1.1 percent in February. Wages and salaries, the largest component of personal income, increased 0.2 percent in March after increasing 0.7 percent in February. Wages for services industries’ slowed, while wages for goods industries turned down slightly.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.2 percent in March after increasing 1.1 percent in February.

Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in March after increasing 0.7 percent in February.

Real consumer spending, spending adjusted for price changes, increased 0.3 percent in March, the same increase as in February. Purchases of durable goods turned down slightly.

PCE prices decreased 0.1 percent in March after increasing 0.4 percent in February. Excluding food and energy, the PCE price index remained flat in March after increasing 0.1 percent in February.

pi_2Personal saving rate
Personal saving as a percent of DPI was 2.7 percent in March, the same as in February.

To learn more about personal income and outlays, read the full report.



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