Personal income increased $122.0 billion (0.5 percent at a monthly rate) in March. Disposable personal income (DPI)-personal income less personal current taxes-increased $104.0 billion (0.5 percent). Personal outlays-the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments-increased $172.1 billion (0.9 percent) and consumer spending increased $160.9 billion (0.8 percent). Personal saving was $671.0 billion and the personal saving rate-personal saving as a percentage of disposable personal income-was 3.2 percent in March. Full Text

Real gross domestic product (GDP) increased at an annual rate of 1.6 percent in the first quarter of 2024, according to the "advance" estimate. In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending and housing investment that were partly offset by a decrease in inventory investment. Imports, which are a subtraction in the calculation of GDP, increased. Full Text