U.S. HOUSEHOLD INCOME SURGED BY 21.1% IN MARCH

Key Points:

  • Household income rose at a record pace of 21.1%, or $4.21 trillion, in March, fueled by federal stimulus checks.
  • The surge in income last month was the largest monthly increase on record tracing back to 1959.
  • Consumer spending also increased 4.2% in March.
  • This was the steepest monthly increase since last summer.
  • The Right Facts will continue to monitor consumer income and spending.
Source