WASHINGTON — Personal income rose $143.2 billion or 1.1% in February following a revised 3.7% decrease in January, the Commerce Department reported Friday.
Personal income was originally reported as declining 0.6% in January.
February personal spending climbed $77.2 billion or 0.7%, after rising a revised 0.4% the previous month. The February increase was the largest since a 0.8% jump in September. January's spending figure was originally reported as a 0.2% increase.
The February figures outperformed the expectations of economists polled by Thomson Reuters, who had estimated that personal income would rise 0.8% and that spending would increase 0.6%.
Disposable personal income climbed $127.8 billion, or 1.1% in February, following a 4% drop in February. Real disposable income, which is adjusted to remove price changes, also rose 0.7% after falling 4% the previous month.
The core PCE, which excludes food and energy, rose 0.1% after advancing 0.2% the previous month.
