Personal income, at a seasonally adjusted annualized rate, was up 0.5 per cent to $8.59 trillion in March, the U.S. Commerce Department reported on Monday (all figures in U.S. dollars). This matched the proportional increase of February, and slightly exceeded the average forecast of 0.4 per cent from analysts polled by Reuters.
Spending on goods and services increased 0.3 per cent, stronger the 0.2 per cent gain in February. Analysts were expecting another 0.2 per cent gain.
The personal savings rate was negative 0.8 per cent in March, meaning that for every $100 Americans took home after taxes, they spent $100.80.
