Personal Income Rises in June, Spending Flat

Washington, DC, July 31, 2012 -- Despite a greater than expected increase in U.S. personal income in June, consumer spending was flat, according to the Commerce Department.

The government said personal income in the U.S. rose by $61.8 billion in June, an increase of 0.5%.

However, consumer spending fell less than 0.1%.

May consumer spending, which had initially shown no change, was revised to show a 0.1% decrease.