Personal income in the U.S. increased by slightly less than expected in the month of December, according to a report released by the Commerce Department on Monday.
The report said personal income rose by 0.3 percent in December after inching up by 0.1 percent in November. Economists had expected income to rise by 0.4 percent.
The Commerce Department also said personal spending climbed by 0.5 percent in December after rising by 0.2 percent in the previous month. The increase in spending matched economist estimates.
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