Personal Income Rises More Than Expected

Washington, DC, March 28, 2008— The Commerce Department said personal income increased more than expected in February.

The department’s report showed that personal income rose 0.5 percent in February compared to a 0.3 percent increase in January. Economists had expected personal income to increase by 0.3 percent.

The bigger than expected increase in personal income came as private wage and salary disbursements increased by $14.8 billion in February following an increase of $21.9 billion in January.