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Financial News: U.S. Personal Income Inches Up Less Than Expected

U.S. Personal Income Inches Up Less Than Expected In July

08/30/2019 - 08:38:00 (RTTNews)

(RTTNews) - While the Commerce Department released a report on Friday showing U.S. personal income crept up by less than expected in the month of July, the report still showed a bigger than expected increase in personal spending during the month.

The Commerce Department said personal income inched up by 0.1 percent in July after climbing by an upwardly revised 0.5 percent in June.

Economists had expected personal income to rise by 0.3 percent compared to the 0.4 percent increase originally reported for the previous month.

Meanwhile, the report said personal spending grew by 0.6 percent in July after rising by an unrevised 0.3 percent in June. Personal spending had been expected to climb by 0.5 percent.

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