U.S. personal incomes grew slightly more than expected in March but growth in consumer spending slowed somewhat, according to figures released Monday by the Commerce Department.
Department figures put U.S. personal incomes up 0.4 percent in March, slightly higher than the 0.3 percent growth posted for February.
That comes in slightly higher than the 0.3 percent growth predicted by most economists.
Furthermore, the February personal income figures were revised up from the 0.2 percent growth rate initially reported.
Consumer spending, while still up for the month, did not keep pace with rising incomes, growing 0.3 percent.
by RTT Staff Writer
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