Personal Incomes, Spending Rise in March

Washington, DC, April 29, 2011 -- Americans earned and spent more in March, according to the Commerce Department.

Personal incomes rose 0.5 percent last month and consumer spending rose 0.6 percent, the government said.

However, after adjusting for inflation, spending rose just 0.2 percent and after-tax incomes were essentially flat.

The increase in gasoline prices is essentially being paid for by the payroll tax cut implemented at the beginning of the year.

Spending on manufactured goods was essentially flat.