WASHINGTON (MarketWatch) - Personal income fell sharply in March as workers received less compensation, the government said Thursday. Personal incomes...
WASHINGTON - Personal income fell sharply in March as workers received less compensation, the government said Thursday. Personal incomes dropped 2% in March, while disposable income also fell 2%. Consumer spending slumped 7.5% last month as households stayed at home.
Since spending fell faster than income, the amount of money individuals save jumped to 13.1% from 8%. Inflation softened in March, with the headline PCE index rising 1.3% in the past 12 months, down from 1.8% in February The core PCE index that excludes food and energy, meanwhile, slipped to 1.7% rate over the last year from 1.8%.
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