The Commerce Department said on Thursday personal income increased to a seasonally adjusted annual rate of $13.162 trillion, $3.3 billion more than reported last month, likely reflecting the strengthening labor market.
Growth in disposable income was $10.6 billion more than previously estimated.
With a downward revision to exports offset by an upward revision to non-residential fixed investment, the Commerce Department released a report on Thursday showing that the pace of U.S. economic growth in the fourth quarter was unrevised.
The report showed that GDP increased at an annual rate of 3.0 percent in the fourth quarter, unchanged from the previous estimate and in line with economist estimates.
While the Labor Department released a report on Thursday showing a modest drop in initial jobless claims in the week ended March 24th, jobless claims came in above economist estimates due to an upward revision to the previous week's data.
The report showed that jobless claims edged down to 359,000 from the previous week's revised figure of 364,000. Economists had expected jobless claims to inch up to 350,000 from the 348,000 originally reported for the previous week.
With a downward revision to exports offset by an upward revision to non-residential fixed investment, the Commerce Department released a report on Thursday showing that the pace of U.S. economic growth in the fourth quarter was unrevised.
While the Labor Department released a report on Thursday showing a modest drop in initial jobless claims in the week ended March 24th, jobless claims came in above economist estimates due to an upward revision to the previous week's data.
U.S. stock index futures pointed to a slightly higher open on Wall Street on Monday, with futures for the S&P 500 up 0.14 percent, Dow Jones futures up 0.2 percent and Nasdaq 50 futures up 0.21 percent at 0813 GMT.
European stocks edged higher in morning trade following a week-long sell-off, but rising concerns over Spain's ability to deal with its debt crisis weighed on the country's stocks, with the IBEX benchmark down 1.4 percent at a two-week low.
Contracts to purchase previously owned homes unexpectedly fell in February, suggesting a further pull back in sales as the housing market struggles to regain its footing.
The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed in February, slipped 0.5 percent to 96.5.
Pending home sales in the U.S. showed an unexpected decrease in the month of February, according to a report released by the National Association of Realtors on Monday, although pending sales remain notably above the pattern in the first half of last year.
NAR said its pending home sales index fell by 0.5 percent to a reading of 96.5 in February after rising by 2.0 percent to a reading of 97.0 in January. The drop surprised economists, who had expected the index to increase by 1.0 percent.
Ireland's residential property prices declined at a faster pace for the seventh month in a row, data released by the Central Statistics Office showed Monday.
The property price index declined 17.8 percent annually in February, after falling 17.4 percent in January. Property prices have been falling for nearly four years in Ireland. The latest decrease is the biggest since December 2009, when prices fell 18.6 percent.
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