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U.S. Personal Income Unexpectedly Inches Up 0.1% In June

Personal income in the U.S. expectedly saw a slight increase in the month of June, according to a report released by the Commerce Department on Friday.

The report showed personal income inched up by 0.1 percent in June after tumbling by a revised 2.2 percent in May.

The uptick surprised economists, who had expected personal income to dip by 0.3 percent compared to the 2.0 percent slump originally reported for the previous month.

Meanwhile, the Commerce Department said personal spending jumped by 1.0 percent in June after edging down by a revised 0.1 percent in May.

Economists had expected personal spending to increase by 0.7 percent compared to the unchanged reading originally reported for the previous month.

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