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.

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.