PhotoConsumers had more money in their pockets in March -- but not a lot more.

The Bureau of Economic Analysis (BEA) reports personal income rose 0.2%, or $40.0 billion in March with disposable personal income (DPI) -- what's left over after taxes are deducted -- also up 0.2%.

The increase came largely from advances in things like Social Security, Medicare & Medicaid benefits, nonfarm proprietors’ income, and employee paychecks.

Personal consumption expenditures (PCE) were nearly flat, totaling $5.7 billion or less than 0.1%. What increase there was was more than accounted for by an rise in spending for services -- mostly household utilities. That was partially offset by a drop in spending for durable goods -- motor vehicles and parts.

Personal saving came to $849.1 billion in March for a personal saving rate -- personal saving as a percentage of disposable personal income -- of 5.9, up 0.3% from the February rate.

The complete report is available on the BEA website.



Need help dealing with the IRS?

Our tax relief matching tool will find the right company for you.

    Share your Comments