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U.S. personal income rose by $50.3 billion, or 0.4 percent, in March, according to the Bureau of Economic Analysis.

Private wages and salaries accounted for $17.3 billion of the increase, and investment income made up another $8.8 billion. Social security and other government benefit payments rose by $11.6 billion.

Consumer spending rose 0.3 percent, though that drops to 0.1 percent after accounting for inflation.

Disposable personal income rose 0.4 percent, or 0.2 percent after inflation.

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