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Financial News: U.S. Personal Income Rebounds More Than Expected In

U.S. Personal Income Rebounds More Than Expected In December

01/29/2021 - 08:38:00 (RTTNews)

(RTTNews) - While the Commerce Department released a report on Friday showing a much bigger than expected increase in U.S. personal income in the month of December, the report also showed a modest decrease in personal spending.

The report said personal income climbed by 0.6 percent in December after tumbling by a downwardly revised 1.3 percent in November.

Economists had expected personal income to inch up by 0.1 percent compared to the 1.1 percent slump originally reported for the previous month.

Meanwhile, the Commerce Department said personal spending dipped by 0.2 percent in December after falling by a downwardly revised 0.7 percent in November.

Economists had expected spending to decrease by 0.4 percent, matching the drop originally reported for the previous month.

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