US consumer spending grew in March, according to a report released by the Commerce Department on April 30.
Consumer spending, which accounts for more than two-thirds of US economic activity, increased by 0.4% in March after a 0.2% rise in February.
The personal consumption expenditures (PCE) price index, excluding food and energy prices, which is the Federal Reserve's preferred inflation gauge, rose by 0.2% in March, coming in line with analysts’ expectations.
On a yearly basis, the core PCE advanced by 1.9% in March. US personal income increased by 0.3% last month. Meanwhile, February’s figure was revised down to a 0.3% gain, from a 0.4% rise initially.
