Personal income in the U.S. increased by less than expected in the month of June, according to a report released by the Commerce Department on Friday.
The report said personal income rose by 0.3 percent in June after climbing by an upwardly revised 0.5 percent in May.
Economists had expected personal income to increase by 0.5 percent compared to the 0.4 percent advance originally reported for the previous month.
Meanwhile, the report said personal spending climbed by 0.5 percent in June after inching up by an upwardly revised 0.2 percent in May.
Economists had expected personal spending to rise by 0.4 percent compared to the 0.1 percent uptick originally reported for the previous month.