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.
The report said personal income rose by 0.2 percent in February after climbing by 0.5 percent in January. Economists had expected income to tick up by 0.1 percent.
The Commerce Department also said personal spending inched up by 0.1 percent in February, matching the downwardly revised uptick seen in the previous month.
The slight increase in spending matched economist estimates, although spending in January was downwardly revised from the originally reported 0.5 percent growth.
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