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 polled by Thomson Reuters.

Disposable personal income decreased 0.1% in January, following an increase of 0.3% in December.

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