Personal Income Rose 0.6% in March, Spending Up 0.9%

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Personal Income Rose 0.6% in March, Spending Up 0.9%

Washington, DC, April 30, 2025-Personal income increased $149.2 billion (0.6% at a monthly rate) in March, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). 

Disposable personal income (DPI)-personal income less personal current taxes-increased $142.5 billion (0.6%), and personal consumption expenditures (PCE) increased $195.4 billion (0.9%).

Personal outlays the sum of PCE, personal interest payments, and personal current transfer payments-increased $198.6 billion in March. Personal saving was $857.3 billion in March, and the personal saving rate-personal saving as a percentage of DPI-was 3.6%.

The increase in current-dollar personal income in March primarily reflected increases in compensation and farm proprietors’ income that were partly offset by a decrease in other government social benefits.

The $195.4 billion increase in current-dollar PCE in March reflected increases of $132.6 billion in spending on goods and $62.9 billion in spending on services.