WASHINGTON - Personal income rose $61.8 billion or 0.5% in June, the Commerce Department reported Tuesday.
The June increase followed a 0.3% gain in May and was greater than the median 0.4% gain estimated by economists polled by Thomson Reuters.
Personal spending edged up $1.3 billion, or less than 0.1%, in June and was reported as unchanged by the Commerce Department. The unchanged amount followed a 0.1% drop in May and was lower than the median 0.1% gain projected by the economists.
Disposable personal income increased $52.4 billion, or 0.4% in June, following a gain of 0.3% in May. Real disposable income, which is adjusted to remove price changes, rose 0.3% in June, after gaining 0.5% in May.
The core PCE, which excludes food and energy, was up 0.2% in June, following a 0.1% gain in May.
The Commerce Department said that it revised estimates from January 2009 through May 2012 to reflect the results of the annual revision of the national income and product accounts. These revisions, usually made in July, incorporate newly available and more comprehensive source data, as well as improved estimation methodologies, the department said.