Personal income in the U.S. increased by slightly more than expected in the month of February, according to a report released by the Commerce Department on Monday, although the report also showed that personal spending rose by less than anticipated.
The Commerce Department said personal income climbed by 0.4 percent in February, matching the upwardly revised increase seen in January.
Economists had been expecting income to rise by 0.3 percent, which would have matched the growth originally reported for the previous month.
Meanwhile, the report also showed that personal spending inched up by 0.1 percent in February after dipping by 0.2 percent in January. Spending had been expected to edge up by 0.2 percent.
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