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- U.S. personal income pulls back more than expected in January
U.S. personal income pulls back more than expected in January
Personal income in the U.S. fell by more than anticipated in the month of January, according to a report released by the Commerce Department on Friday, although the report also showed that personal spending rose in line with estimates.
The report said personal income tumbled by 3.6 percent in January after surging up by 2.6 percent in December. Economists had been expecting income to pull back by about 2.1 percent.
At the same time, the Commerce Department said personal spending edged up by 0.2 percent in January after inching up by 0.1 percent in December. The increase in spending matched economists' expectations.
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