PERSONAL INCOME RISES 0.8 PERCENT

PERSONAL INCOME RISES 0.8 PERCENT

U.S. personal income rose 0.8 percent in March to a seasonally adjusted annual rate of $3.924 trillion, following a revised 0.8 percent increase in February to a $3.895 trillion pace, the Commerce Department said.

Commerce earlier reported a 0.9 percent gain in February.Personal consumption expenditures rose 0.7 percent to an annual rate of $3.091 trillion last month after a revised 0.8 percent gain in February, originally reported up 0.7 percent.

Economists had estimated March personal income would rise an average of 0.5 percent, in a range of up 0.3 percent to up 0.6 percent. They also had estimated personal consumption rose an average 0.6 percent, with forecasts ranging from up 0.1 percent to up 0.8 percent.

The March increase was the largest since an identical advance in December, Commerce said.

Commerce said March disposable income - personal income less tax and non- tax payments - rose 0.6 percent to $3.341 trillion, compared with the revised 0.9 percent February increase.

Personal tax and non-tax payments rose $10.8 billion to $583.1 billion last month, compared with a revised $3.3 billion decline in February, Commerce said.

Wages and salaries rose 0.5 percent to $2.319 trillion in March after the revised 0.6 percent increase in February.

Commodity-producing industry payrolls rose 1.2 percent compared with the revised 0.3 percent gain in February. Manufacturing payrolls rose 1.3 percent in March after being unchanged in February.