After reporting a sharp increase in U.S. personal income in the previous month, the Commerce Department released a report on Friday showing personal income edged up by slightly less than expected in the month of August.
The Commerce Department said personal spending crept up by 0.2 percent in August after jumping by 1.1 percent in July. Economists had expected income to rise by 0.3 percent.
Disposable personal income, or personal income less personal current taxes, also inched up by 0.1 percent in August after surging by 1.1 percent in the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.