U.S. Personal Income Climbs 0.6% In February
The Commerce Department released a report on Friday showing personal income in the U.S. increased more than expected in the month of February, while personal spending rose in line with economist estimates.
The report said personal income climbed by 0.6 percent in February, matching the increase seen in January. Economists had expected income to rise by 0.4 percent.
Meanwhile, the Commerce Department said personal spending edged up by 0.2 percent for the second straight month, matching expectations.
A reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth ticked up to 1.8 percent in February from an upwardly revised 1.7 percent in January.