Consumers tended to hang on to what little increase in incomes they enjoyed in February.
The Commerce department reports personal income was up $23.7 billion, or 0.2% last month, with disposable personal income (DPI) -- what's left over after taxes -- up by the same amount and percentage.
Personal consumption expenditures (PCE) inched ahead $11.0 billion, or 0.1%.
Wages and salaries
Wages and salaries decreased by $9.4 billion in February after surging $46.5 billion in January. Private wages and salaries were down $12.9 billion, while government wages and salaries increased $3.5 billion.
Outlays and saving
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- rose $10.4 billion in February, compared with an increase of $14.7 billion in January.
Personal saving -- DPI less personal outlays -- rose $13.3 billion from January to $733.6 billion. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.4%, up 0.1% from the previous month.
The complete report may be found on the Commerce Department website.
Keep an eye on your inbox, the lastest consumer news is on it's way!