The Department of Commerce reports in a study released this week that consumer spending continued to rise in March. Real consumer spending adjusted for price changes increased 0.5 percent in March, the same percentage it increased in February.
Personal income increased 0.3 percent in March, following an increase of 0.1 percent in February. Wages and salaries, the most significant portion of personal income, grew 0.2 percent after a rise of 0.1 percent in February.
The personal savings rate dropped slightly in March to 2.7 percent. It had stood at 3 percent for the month of February.