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Macro Pulse highlights recent activity and events expected to affect the U.S. economy over the next 24 months. While the review is of the entire U.S. economy its particular focus is on developments affecting the Forest Products industry. Everyone with a stake in any level of the sector can benefit from
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Monday, May 7, 2012

March 2012 Personal Income and Outlays, Retail Sales and Consumer Debt

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Bureau of Economic Analysis data showed that personal income increased $50.3 billion (0.4 percent), and disposable personal income (DPI) increased $42.5 billion (0.4 percent) in March. Personal consumption expenditures (PCE) increased $29.6 billion (0.3 percent). Real (inflation-adjusted) DPI increased 0.2 percent while real PCE increased 0.1 percent.
 
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Consumers increased spending on retail goods in March by a seasonally adjusted 0.8 percent. Excluding car and gasoline sales, retail sales increased 0.7 percent, better than February's gain for that category. Sales at electronics stores rose 1 percent, the most in five months.
 
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Total consumer debt outstanding jumped by a seasonally adjusted $21.4 billion (10.2 percent annualized). Revolving (mostly credit card) debt rose by $5.2 billion (7.8 percent annualized), while non-revolving debt (mainly student and auto loans) increased by $16.2 billion (11.3 percent annualized). In March, student loans comprised over 78 percent of the increase in non-revolving debt.
 
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