Here come personal income and spending ...

The Bureau of Economic Analysis is set to release its monthly report on personal income and spending at 8:30 a.m. ET.

Economists forecast that income rose 0.3% in March, while consumer spending increased by 0.2%, according to Bloomberg.

On Friday, the advance report on first-quarter GDP showed that consumer spending rose just 0.3%, the lowest since Q4 2009. Lower spending on durable goods, especially vehicle and parts dealers, was a major contributor to the fall.

The upcoming report will also include data on personal consumption expenditures, a gauge of consumer purchases that the Fed prefers as an inflation gauge. The PCE deflator is expcted to fall 0.2% month-on-month. Compared to a year ago, it’s forecast to slip to 1.9% from 2.1%, which was the first time it exceeded the Fed’s 2% target in five years.

More to come …

NOW WATCH: Animated map of what Earth would look like if all the ice melted

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.