WASHINGTON — Personal income rose $37.4 billion, or 0.3%, in January, the Commerce Department reported Thursday.
The January increase followed a 0.5% gain in December, but was short of the median 0.4% increase estimated by economists polled by Thomson Reuters.
Personal spending rose $23.2 billion, or 0.2%, in January. That increase followed a flat December, and was less than the 0.4% increase projected by economists.