Personal income in the U.S. rose by slightly less than expected in the month of August, according to a report released by the Commerce Department on Friday, while personal spending increased in line with economist estimates.
The report said personal income climbed by 0.3 percent in August, matching the increase seen in July. Economists had expected income to rise by 0.4 percent.
Meanwhile, the Commerce Department said personal spending rose by 0.3 percent in August after climbing by 0.4 percent in the previous month. Spending had been expected to increase by 0.3 percent.