Washington, DC, February 1, 2007--The Commerce Department reported that personal income rose 0.5 percent in the month, up from the 0.3 percent rise seen in November.
The December gain was in line with forecasts of economists.
Personal spending rose 0.7 percent, up from a 0.5 percent gain in November and also in line with economists' forecasts.
A closely watched inflation reading in the report, the core PCE deflator, which measures prices paid by individuals excluding food and energy, posted only a 0.1 percent rise, although that was up from no change in those prices seen in the November reading.
