WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Friday showed personal income in the U.S. increased by less than expected in the month of December.
The Commerce Department said personal income rose by 0.3 percent in December after climbing by an upwardly revised 0.5 percent in November.
Economists had expected personal income to advance by 0.5 percent compared to the 0.4 percent increase originally reported for the previous month.
Meanwhile, the report showed personal spending fell by 0.6 percent in December after rising by 0.4 percent in November. The decrease in spending matched economist estimates.
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