WASHINGTON — Personal income rose $61.3 billion or 0.5% in December, the Commerce Department reported Monday.
The gain was the largest since February 2011, when personal income was up 0.6 %. The December increase followed a 0.1% gain in November and was greater than the median 0.4% increase estimated by economists polled by Thomson Reuters.
Personal spending fell slightly, $2.0 billion, or less than 0.1% in December, and was called unchanged by Commerce. That decrease followed a 0.1% gain in November, which contrasted with a 0.1% increase projected by economists polled by Thomson Reuters.
Core personal consumption expenditures grew 0.2% in the month, and 1.8% in the year.