Research >> Economics
Personal Income increased 0.3%, Spending increased 0.4%
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Personal income increased $47.8 billion (0.3 percent) in March according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $39.8 billion (0.3 percent) and personal consumption expenditures (PCE) increased $61.7 billion (0.4 percent).
Real DPI increased 0.2 percent in March and Real PCE increased 0.4 percent. The PCE price index increased less than 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent.
The increase in personal income in March primarily reflected increases in wages and salaries, social security benefits, and dividend income.
The $50.0 billion increase in real PCE in March reflected an increase of $24.2 billion in spending for goods and a $26.8 billion increase in spending for services. Within goods, purchases of recreational goods and vehicles was the leading contributor to the increase. Within services, the largest contributor to the increase was spending for household electricity and gas. Detailed information on monthly real PCE spending can be found in Table 2.3.6U.
Personal outlays increased $62.3 billion in March. Personal saving was $460.6 billion in March and the personal saving rate, personal saving as a percentage of disposable personal income, was 3.1 percent.
Posted: April 30, 2018 Monday 08:30 AM