Economic Buzz: US Personal Income Rises By 0.3% In December

31 Jan 2022 , 08:44 AM

US personal income rose by 0.3 percent in December after climbing by an upwardly revised 0.5 percent in November, a report released by the Commerce Department on Friday showed. Disposable personal income, or personal income less personal current taxes, also edged up by 0.2 percent in December after rising by 0.4 percent in November. When adjusted for inflation, however, disposable personal income actually dipped by 0.2 percent for the third straight month. The report also showed personal spending fell by 0.6 percent in December after rising by 0.4 percent in November.

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