29.03.201909:01:00UTC+00U.S. Personal Income Rises 0.2% In February, Slightly Less Than Expected

Personal income in the U.S. increased by slightly less than anticipated in the month of February, according to a report released by the Commerce Department on Friday.

The report said personal income rose by 0.2 percent in February after edging down by 0.1 percent in January. Economists had expected personal income to climb by 0.3 percent.

Increases in wages and salaries, government social benefits, and proprietors' income were partially offset by a decrease in personal interest income.

Disposable personal income, or personal income less personal current taxes, also increased by 0.2 percent in February after falling by 0.2 percent in January.

Reflecting the continued impact of the recent government shutdown, the Commerce Department also released data on personal spending in January but not February.

Personal spending inched up by 0.1 percent in January after falling by 0.6 percent in December, while economists had expected spending to increase by 0.3 percent.

The report said real spending, which is adjusted to remove price changes, also crept up by 0.1 percent in January following a 0.6 percent slump in December.

With income slipping and spending rising, personal saving as a percentage of disposable income dipped to 7.5 percent in January from 7.7 percent in the previous month.

A reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth slowed to 1.8 percent in January from 2.0 percent in December.