Personal income increased $67.0 billion, or 0.5 percent, and disposable personal income (DPI)
increased $64.4 billion, or 0.6 percent, inMarch, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $60.7 billion, or 0.6 percent.  In February,
personal income increased $53.1 billion, or 0.4 percent, DPI increased $49.6 billion, or 0.4 percent,
and PCE increased $94.4 billion, or 0.9 percent, based on revised estimates.

Real disposable income increased 0.1 percent in March, compared with an increase of less than 0.1
percent in February.  Real PCE increased 0.2 percent, compared with an increase of 0.5 percent.

                                        2010                            2011
                                        Nov.            Dec.            Jan.            Feb.            Mar.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.3             0.5             1.1             0.4             0.5
Disposable personal income:
 Current dollars                        0.3             0.5             0.8             0.4             0.6
 Chained (2005) dollars                 0.2             0.2             0.5             0.0             0.1
Personal consumption expenditures:
 Current dollars                        0.3             0.4             0.5             0.9             0.6
 Chained (2005) dollars                 0.3             0.1             0.1             0.5             0.2

                                Wages and salaries

Private wage and salary disbursements increased $18.0 billion in March, compared with an increase
of $23.9 billion in February.  Goods-producing industries' payrolls increased $6.2 billion, compared
with an increase of $1.0 billion; manufacturing payrolls increased $5.1 billion, in contrast
to a decrease of $0.5 billion.  Services-producing industries' payrolls increased $11.8 billion,
compared with an increase of $22.9 billion.  Government wage and salary disbursements increased
$1.2 billion, in contrast to a decrease of $0.4 billion.

                                Other personal income

Supplements to wages and salaries increased $4.0 billion in March, compared with an increase of $4.2 billion in February.

Proprietors' income increased $4.4 billion in March, compared with an increase of $6.5 billion in
February.  Farm proprietors' income increased $1.6 billion in March, the same increase as in February.
Nonfarm proprietors' income increased $2.9 billion in March, compared with an increase of $4.8 billion in February.

Rental income of persons increased $8.7 billion in March, compared with an increase of $8.1 billion in February.
Personal income receipts on assets (personal interest income plus personal dividend income) increased
$8.9 billion, compared with an increase of $7.7 billion.  Personal current transfer receipts increased
$24.7 billion, compared with an increase of $6.2 billion.

Contributions for government social insurance -- a subtraction in calculating personal income --  increased
$2.7 billion in March, compared with an increase of $3.3 billion in February.

                                Personal current taxes and disposable personal income

Personal current taxes increased $2.5 billion in March, compared with an increase of $3.6 billion in February.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $64.4 billion,
or 0.6 percent, in March, compared with an increase of $49.6 billion, or 0.4 percent in February.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments --  increased
$60.7 billion inMarch, compared with an increase of $94.4 billion in February.  PCE also increased $60.7 billion,
compared with an increase of $94.4 billion.

Personal saving -- DPI less personal outlays -- was $651.2 billion in March, compared with $647.5 billion in
February.  Personal saving as a percentage of disposable personal income was 5.5 percent in March, the
same as in February.  For a comparison of personal saving in BEAs national income and product accounts
with personal saving in the Federal Reserve Boards flow of funds accounts and data on changes in
net worth, go to /national/nipaweb/Nipa-Frb.asp.

                                Real DPI, real PCE and price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.1 percent in March, compared with an increase
of less than 0.1 percent in February.

Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in March, compared with an increase
of 0.5 percent in February. Purchases of durable goods increased 0.1 percent, compared with an increase of
1.9 percent.  Purchases of nondurable goods decreased 0.3 percent, in contrast to an increase of
0.7 percent.  Purchases of services increased 0.4 percent, compared with an increase of 0.2 percent.

PCE price index -- The price index for PCE increased 0.4 percent in March, the same increase as in February.
The PCE price index, excluding food and energy, increased 0.1 percent in March, compared with an increase
of 0.2 percent in February.

                                Revisions

Estimates have been revised for January and February.  Changes in personal income, current-dollar and
chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for January and
February -- revised and as published in last month's release -- are shown below.

                                                                Change from preceding month
                                        January                                   February
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                           147.4     146.5        1.2       1.1       38.1      53.1        0.3       0.4
Disposable personal income:
 Current dollars                            92.0      92.7        0.8       0.8       36.0      49.6        0.3       0.4
 Chained (2005) dollars                     48.7      48.3        0.5       0.5       -9.3       1.3       -0.1       0.0
Personal consumption expenditures:
 Current dollars                            29.5      48.5        0.3       0.5       69.1      94.4        0.7       0.9
 Chained (2005) dollars                     -4.2      11.9        0.0       0.1       23.9      44.9        0.3       0.5

                                Annual Revision of the National Income and Product Accounts

As part of the annual revision of the national income and product accounts (NIPAs), revised
estimates of personal income and outlays will be released along with estimates for
June 2011 on August 2.  Personal income, disposable personal income, and their components
will be revised back to January 2006, and PCE and personal saving will be revised back to
January 2003.  The August Survey of Current Business will contain an article that describes
the annual revision in detail.

BEAs national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEAs Web site at www.bea.gov.
By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

                                        *          *          *

Next release  May 27, 2011 at 8:30 A.M. EDT for Personal Income and Outlays for April
________________________
NOTE. -- Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified.
Month-to-month dollar changes are differences between these published estimates.  Month-to-month percent
changes are calculated from unrounded data and are not annualized.  Real estimates are in chained (2005) dollars.

This news release is available on BEAs Web site at www.bea.gov/newsreleases/rels.htm.