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THURSDAY May 1, 2008 CONSUMER SPENDING RISES IN MARCH Personal income rose 0.3 percent in March, after increasing 0.5 percent in February. Wages and salaries, the largest component of personal income, increased 0.5 percent, after increasing 0.3 in February. Real disposable personal income (DPI), income adjusted for inflation and taxes, was unchanged in March, after increasing 0.3 percent in February. Real consumer spending (personal consumption expenditures) increased 0.1 percent in March, after remaining unchanged in February. Spending on services turned up. Average growth, last 12 months February March Personal Income 0.3% 0.5% 0.3% Real DPI 0.1% 0.3% 0.0% Real PCE 0.2% 0.0% 0.1% PCE Prices 0.3% 0.1% 0.3% 12-month average February March 0.2% 0.4% 0.2% Prices, as measured by the personal consumption expenditures (PCE) price index, increased 0.3 percent in March, compared with a 0.1 percent increase in February. Personal saving as a percent of disposable personal income was 0.2 percent in March. Personal Saving Rate Real Disposable Personal Income and Real Consumer Spending Percent change (monthly) 1.0 0.5 0.0 -0.5 -1.0 Mar Apr May Jun Jul Aug Real Disposable Personal Income Sept Oct Nov Dec Jan Feb Mar Real Consumer Spending BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: On May 30, 2008, the April estimates of Personal Income and Outlays will be released. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
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