Share this article

print logo

AMERICANS' INCOMES RISE, BUT NOT AS MUCH AS SPENDING

Americans' incomes rose by 0.5 percent in March, the best showing in three months, and they used the extra money to boost consumer spending by 0.6 percent, the government reported today.

The Commerce Department said that the March income gain followed a 0.4 percent rise in February and was the best since a 3.7 percent surge in December, a month when the income figure soared because of a special dividend payment made by computer software giant Microsoft.

The 0.6 percent increase in consumer spending was down only slightly from a 0.7 percent gain in February and no increase at all in January. Both the rise in incomes and spending came in better than economists had expected, bucking a recent trend in which other March statistics showed economic activity slowed significantly during the month.

There are no comments - be the first to comment