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30 Apr 2021
US: Personal Income surges by 21.1% in March, Personal Spending increases by 4.2%
- Personal Income in US rose sharply in March.
- US Dollar Index clings to recovery gains, stays below 91.00.
The US Bureau of Economic Analysis reported on Friday that Personal Income in March rose by 21.1% fueled by stimulus checks. This reading came in better than the market expectation for an increase of 20.3% and followed February's contraction of 7%.
Further details of the publication revealed that Personal Spending increased by 4.2% in the same period, compared to analysts' estimate of 4.1%.
Market reaction
The US Dollar Index showed no immediate reaction to these figures and stays in the positive territory near 90.90.