Consumption rose 0.4 percent for services, after being flat in February; while fell 0.3 percent for nondurable goods, following a 0.2 percent drop in February and declined 1.4 percent for durable goods, after rising 0.1 percent in the previous month.
Personal income increased 0.2 percent, lower than an downwardly revised 0.3 percent gain in February and below market expectations of 0.3 percent. It primarily reflected increases in government social benefits to persons, nonfarm proprietors’ income, and compensation of employees.
Personal outlays increased $4.9 billion; personal saving was $849.1 billion and the personal saving rate was 5.9 percent.
Disposable personal income (DPI) increased $35 billion (0.2 percent). Real DPI went up 0.5 percent and real PCE increased 0.3 percent.
The PCE price index decreased 0.2 percent after a 0.1 percent rise in February. Excluding food and energy, the PCE price index went down 0.1 percent, following 0.2 percent growth in the previous month.