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US: Robust March Consumer Spending, but Q1 GDP Comes in a Little Light
Personal spending jumped 0.9% in March, right in line with the consensus forecast. More encouraging for consumer spending in the second quarter was the improvement in personal income growth to a better than expected 0.6% gain last month. Inflation readings heated up as expected with PCE and core PCE prices rising 0.7% and 0.3%, respectively, in line with our forecasts. Real personal spending, after adjusting for inflation, increased 0.2% in March, a slight moderation from February’s 0.3% gain but a solid showing, nevertheless. Goods spending increased 0.6% in real terms with strong increases in motor vehicles ... (full story)
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Personal income increased $149.2 billion (0.6 percent 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 percent), and personal consumption expenditures (PCE) increased $195.4 billion (0.9 ...
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2026 (January, February, and March), according to the advance estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. The contributors to the increase in real GDP in the first quarter ...
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