US: Personal Income and Spending Surprise to the Upside

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US: Personal Income and Spending Surprise to the Upside

Personal income was up 0.5% month-on-month (m/m) in March, a notch higher than the consensus estimate (+0.4% m/m). February growth was revised up to +0.7% m/m from +0.5% m/m reported earlier. Strong growth in compensation of employees (+0.5% m/m) remains the biggest driver, with both private and government sector wages rising. Proprietors’ income also came […]

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