Personal income in the U.S. rose by slightly more than expected in the month of December, according to a report released by the Commerce Department on Monday, while personal spending increased in line with estimates.
The Commerce Department said personal income climbed by 0.4 percent in December after rising by 0.3 percent in November. Economists had expected another 0.3 percent increase.
The report also said personal spending rose by 0.4 percent in December following a 0.8 percent increase in the previous month. The spending growth matched expectations.
by RTT Staff Writer
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