Personal Income increased 0.3%, by $36.0 billion in March, the largest increase in five months, to $12,239.2 billion seasonally adjusted at annual rates, lower than the expected 0.4% increase, following a 0.1% increase in February, originally reported as unchanged. Net of taxes Disposable Personal Income increased 0.3%, by $32.3 billion, to $11,093.4 billion, after remaining virtually unchanged in February, rising by less than 0.1%. As incomes grew, Personal Consumption Expenditures increased by 0.6%, matching expectations, following a 0.5% increase in February, revised from 0.3%. With personal consumption expenditures rising at a faster pace than income levels, the Personal Savings Rate decreased to 2.7% of disposable income, the lowest level since September 2008, from 3.0% in February, originally reported at 3.1%.
ISM Manufacturing Index figures are expected today at 10:00 AM EST. The ISM Manufacturing Index increased to 59.6 in March, following a decrease to 56.5 in February from the 58.4 level in January.
Construction Spending figures are expected today at 10:00 AM EST. Construction Spending fell by 1.3% to $846.2 billion during February. Year over year, construction spending had declined by 12.8% from the February 2009 estimate of $970.4 billion.
Upcoming Releases
ISM Manufacturing Index (05/03 at 10:00 AM EST)
Construction Spending (05/03 at 10:00 AM EST)
Construction Spending (05/03 at 10:00 AM EST)
Pending Home Sales (05/04 at 10:00 AM EST)
Factory Orders (05/04 at 10:00 AM EST)
