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2014.06.2609:44:00UTC+00U.S. Personal Income Rises In Line With Estimates In May

Personal income in the U.S. increased in line with economist estimates in the month of May, according to a report released by the Commerce Department on Thursday, although the report also showed a smaller than expected increase in personal spending.

The report said personal income rose by 0.4 percent in May after climbing by 0.3 percent in April. The continued income growth matched the consensus estimate.

Meanwhile, the Commerce Department said personal spending edged up by 0.2 percent in May after coming in unchanged in April. Economists had expected spending to increase by 0.4 percent.

A closely watched reading on inflation also showed that core consumer prices, which exclude food and energy prices, rose at an annual rate of 1.5 percent in May compared to the 1.4 percent growth in April.

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