US personal income figure hints more stable growth
The personal income of Americans grew $13.9 billion, or 0.5 percent, in March , the Commerce Department reported Wednesday. In January, income rose a record 1 .6 percent, according to revised figures. In February the increase was 0.7 percent.
''Most Americans should find these comfortable statistics,'' the Commerce Department's chief economist, Robert Ortner, said. ''They mean the economy is not overheating and in fact is settling back to a more moderate rate of expansion.''
The new report follows a string of other statistics that indicate the economy is slowing somewhat after its rapid pace at the start of the year.