Consumer personal income on the rise, says BEA
Economic indicators during the month of March are showing that consumers across the country are continuing to see stabilized income, and are even seeing increased amounts of extra spending money that can be used to help stimulate the economy.
According to the Personal Income and Outlays report released by the U.S. Bureau of Economic Analysis on Monday, personal income among consumers increased by $36 billion in March, or 0.3 percent compared to the previous month’s figures. In February, personal income had only seen a 0.1 percent boost.
Similarly, the data also found that personal consumption expenditures edged up by $58.6 billion, a 0.6 percent jump compared to the month prior. The increase surpassed the $56.4 billion, or 0.5 percent, increase seen in February.
In total, March also saw consumers’ disposable personal income – which is personal income minus personal current taxes – increased by $32.3 billion, or 0.3 percent during the month. In February, the DPI had only seen a 0.1 percent increase.