While the Commerce Department released a report on Monday showing that U.S. personal income rose by less than expected in the month of November, the report still showed that personal spending increased in line with estimates.
The report said personal income crept up by 0.2 percent in November after edging down by 0.1 percent in October. Economists had been expecting income to increase by about 0.5 percent.
At the same time, the Commerce Department said personal spending rose by 0.5 percent in November following a 0.4 percent increase in the previous month. The increase in spending matched the expectations of economists.
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