WASHINGTON — Personal income rose $50.3 billion, or 0.4%, in March, the Commerce Department reported Monday.
The March increase followed an upwardly revised 0.3% gain in February, originally reported as a 0.2% increase. The March rise was better than the median 0.3% increase estimated by economists polled by Thomson Reuters.
Personal spending climbed $29.6 billion, or 0.3%, in March. That increase followed an upwardly revised 0.9% gain in February, first reported as 0.8%. February’s personal spending rise was the largest since a 1.2% jump in August 2009.
The March gain fell short of the 0.4% increase projected by economists.
Core personal consumption expenditure prices rose 0.2%, as expected by economists, after a 0.1% gain the month before.