Consumer spending climbs solid 4.2% in March while incomes soar 21.1%, good signs for future economic growth
WASHINGTON (AP) — Consumer spending climbs solid 4.2% in March while incomes soar 21.1%, good signs for future economic growth. On the other hand, real personal spending expanded by 3.6%, failing to meet market estimates.
Personal income increased $4.21 trillion (21.1%
Slightly more than the estimates suggest. Disposable personal income (DPI) grew $4.18 trillion (23.6%) and personal consumption expenditures (PCE) $616 billion (4.2%). “The increase in personal income in March largely reflected an increase in government social benefits. Within government social benefits, ‘other’ social benefits increased. The American Rescue Plan Act established an additional round of direct economic impact payments to households,” the report explained. Nick Note: if you are talking personal spending your talking AMAZON. Retail is dead in America bye bye mom and pop mall and high street shops. NOWAY! they can compete. Its the dawing of a new age……..