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April 29, 2016

Personal Income Accelerates in March

Personal income increased 0.4 percent in March after
increasing 0.1 percent in February. Wages and salaries, the
largest component of personal income, increased 0.4
percent in March after decreasing 0.1 percent in February.
Current-dollar disposable personal income (DPI),
after-tax income, increased 0.4 percent in March after
increasing 0.1 percent in February.
Real DPI, income adjusted for taxes and inflation,
increased 0.3 percent in March after increasing 0.2 percent
in February.
Real consumer spending (PCE), spending adjusted for
price changes, was flat in March after increasing 0.3
percent in February. Spending on durable goods decreased
0.3 percent in March after increasing 0.4 percent in
February.
PCE prices increased 0.1 percent in March after
decreasing 0.1 percent in February. Excluding food and
energy, PCE prices increased 0.1 percent in March after
increasing 0.2 percent in February.
Personal saving rate
Personal saving as a percent of DPI was 5.4 percent in
March and 5.1 percent in February.

Jan.

Feb.

0.4%

0.1%

0.4%

Currentdollar DPI

0.4%

0.1%

0.4%

Real DPI

0.2%

0.2%

0.3%

Real PCE

0.0%

0.3%

0.0%

PCE Prices

0.1%

–0.1%

0.1%

Personal
Saving
Rate

5.2%

5.1%

5.4%

Personal
Income

Mar.

Percent Change (Monthly Rate)

Real Disposable Personal Income and
Real Consumer Spending
0.6
0.4
0.2
0.0
-0.2
-0.4

Dec

Jan

Real Disposable Personal Income

Feb

Mar

Real Consumer Spending

Source: .ureau of Economic Analysis

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 31, 2016, the estimates of April Personal Income and Outlays will be released.
Contact: Jeannine Aversa 202–606–2649

Bureau of Economic Analysis, U.S. Department of Commerce