(Photo: Reuters)
The Commerce Department reported on Monday that personal income rose 0.4 percent in June, beating Wall Street expectations for a 0.3 percent gain. The the Bureau of Economic Analysis said personal income increased by $68.1 billion and disposable personal income (DPI) increased by $60.6 billion, or 0.5 percent.
Personal consumption expenditures (PCE) increased $25.9 billion, inching up by 0.2 percent and matching the median forecast. In May, personal income increased $66.3 billion, or 0.4 percent, while DPI increased $53.8 billion, or 0.4 percent. PCE increased $90.8 billion, or 0.7 percent, based on revised estimates.
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