A report released by the Commerce Department on Friday showed that U.S. personal income rose in line with economist estimates in the month of February, although personal spending inched up by slightly less than expected.
The report said personal income increased by 0.4 percent in February after climbing by an upwardly revised 0.5 percent in January.
Economists had expected personal income growth to match the 0.4 percent increase originally reported for the previous month.
Disposable personal income, or personal income less personal current taxes, rose by 0.3 percent in February after increasing by 0.4 percent in January.
Meanwhile, the Commerce Department said personal spending crept up by 0.1 percent in February after rising by 0.2 percent in January. Economists had expected another 0.2 percent increase.
Real spending, which is adjusted to remove price changes, edged down by 0.1 percent in February after dipping by 0.2 percent in the previous month.
With income rising faster than spending, personal saving as a percentage of disposable personal income, rose to 5.6 percent in February from 5.4 percent in January.
A reading on inflation said to be preferred by the Federal Reserve showed that core consumer prices were up 1.8 percent year-over-year in February, unchanged from the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
March 31, 2017 at 06:38PM
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