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.

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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