WASHINGTON — Personal income rose $45.4 billion or 0.3% in June following a revised 0.4% increase in May, the Commerce Department reported Friday.
Personal income was originally reported as increasing 0.5% in May. The June personal income figure was slightly weaker than the median 0.4% projected by economists polled by Thomson Reuters.
June personal spending increased $59.4 billion or 0.5%, after rising a revised 0.2% the previous month. May's spending figure was originally reported as a 0.3% increase.
Disposable personal income rose $33.6 billion, or 0.3% in June, following a 0.3% uptick in May. Real disposable income, which is adjusted to remove price changes, fell 0.1% after rising 0.2% the previous month.
The core PCE, which excludes food and energy, rose 0.2% in June after increasing 0.1% in May.
The statistics released Friday reflect the results of a comprehensive benchmark revision of the national income and product accounts. Personal income was revised up for 1929-2007, down for 2008 and up for 2009-2012.