U.S. Household Income Surged by Record 21.1% in March

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1. Personal Income and Outlays, March 2021

Consumer spending on goods in March was above the pre-pandemic level of February 2020. Spending for services remained below the pre-pandemic level. Learn more in today’s blog: http://go.usa.gov/xHEHV

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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, APRIL 30, 2021

BEA 21-19

Personal Income and Outlays, March 2021

Personal income increased $4.21 trillion (21.1 percent) in March according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $4.18 trillion (23.6 percent) and personal consumption expenditures (PCE) increased $616.0 billion (4.2 percent).

Real DPI increased 23.0 percent in March and Real PCE increased 3.6 percent; goods increased 7.3 percent and services increased 1.7 percent (tables 5 and 7). The PCE price index increased 0.5 percent. Excluding food and energy, the PCE price index increased 0.4 percent (table 9).

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