(RTTNews) - The Commerce Department released a report on Thursday showing personal income in the U.S. increased in line with economist estimates in the month of November.
The report said personal income rose by 0.4 percent in November after climbing by 0.5 percent in October. Economists had expected personal income to rise by 0.4 percent.
Meanwhile, the Commerce Department said personal spending advanced by 0.6 percent in November after jumping by 1.4 percent in October. The increase in spending also matched expectations.
A reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth accelerated to 4.7 percent in November from 4.2 percent in October.
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