Strong gains in consumer spending and incomes in March

U.S. consumer spending rose at the fastest pace in nine months while incomes soared by a record amount in March. U.S. consumer spending rose at the fastest pace in nine months while incomes soared by a record amount in March. |  Photo: Storyblocks

MARTIN CRUTSINGER AP Economics Writer
Created: April 30, 2021 09:39 AM

WASHINGTON (AP) - U.S. consumer spending rose at the fastest pace in nine months while incomes soared by a record amount in March, reflecting billions of dollars in government support payments aimed at putting the country firmly on the road to recovery. The Commerce Department said  Friday that consumer spending rose 4.2% last month, the best showing since a 6.5% spending increase in June.

Spending had fallen 1% in February as frigid winter weather disrupted sales. Incomes surged by a record-breaking 21.1% in March after having fallen 7% in February.

The big gain reflected delivery of billions of dollars in relief payments with individual payments of up to $1,400 from the $1.9 trillion support package President Joe Biden pushed through Congress last month.

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MARTIN CRUTSINGER AP Economics Writer

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