While the U.S. Commerce Department released a report on Friday showing a slightly bigger than expected increase in personal income in March, the report also showed a slightly smaller than expected increase in personal spending.
The report said personal income climbed by 0.4 percent in March after inching up by a downwardly revised 0.1 percent in February.
Economists had been expecting income to rise by 0.3 percent compared to the 0.2 percent increase originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending edged up by 0.1 percent in March after rising by an upwardly revised 0.2 percent in February.
Spending had been expected to increase by 0.2 percent compared to the 0.1 percent uptick originally reported for the previous month.
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