Monday, April 30, 2012

Personal Income increased 0.4% in March, Spending 0.3%

by Bill McBride on 4/30/2012 08:42:00 AM

The BEA released the Personal Income and Outlays report for March:

Personal income increased $50.3 billion, or 0.4 percent ... in March, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $29.6 billion, or 0.3 percent.
...
Real PCE -- PCE adjusted to remove price changes -- increased 0.1 percent in March, compared with an increase of 0.5 percent in February. ... PCE price index -- The price index for PCE increased 0.2 percent in March, compared with an increase of 0.3 percent in February. The PCE price index, excluding food and energy, increased 0.2 percent, compared with an increase of 0.1 percent.
The following graph shows real Personal Consumption Expenditures (PCE) through March (2005 dollars). Note that the y-axis doesn't start at zero to better show the change.

Personal Consumption Expenditures Click on graph for larger image.

PCE increased 0.3% in March, and real PCE increased 0.1%.

Note: The PCE price index, excluding food and energy, increased 0.2 percent.

The personal saving rate was at 3.8% in March.

As reported on Friday, PCE increased sharply in Q1 (PCE for January and February were revised up). Income in March was slightly better than expected.

Last 10 Posts