WASHINGTON — Personal income fell $505.5 billion or 3.6% in January following an unrevised 2.6% increase in December, the Commerce Department reported Friday.

The personal income decline was the largest drop since January 1993, when a 3.7% dive occurred.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.