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U.S. Personal Income And Spending Rise More Than Expected In March

Personal income and spending in the U.S. both rose by more than expected in the month of March, according to a report released by the Commerce Department on Thursday.

The report said personal income increased by 0.5 percent in March after rising by an upwardly revised 0.4 percent in February.

Economists had expected income to rise by 0.4 percent compared to the 0.3 percent increase originally reported for the previous month.

Additionally, the Commerce Department said personal spending surged up by 0.9 percent in March following an upwardly revised 0.5 percent increase in February.

Spending had been expected to increase by about 0.6 percent compared to the 0.3 percent growth originally reported for the previous month.

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