Jun 28: Personal Income up 0.4% – Economic Highlights

Personal Income increased 0.4%, by $53.7 billion in May, to $12,337.5 billion seasonally adjusted at annual rates, lower than the expected 0.5% increase, following a 0.5% increase in April, originally reported as a 0.4% increase. Net of taxes Disposable Personal Income increased 0.4%, by $49.0 billion, to $11,252.0 billion, after rising by 0.6% in April, originally reported as a 0.5% increase. Personal Consumption Expenditures increased 0.2%, by $24.4 billion, matching expectations, after remaining unchanged in April. With the rate of spending lower than the rate of income growth, the Personal Savings Rate increased to 4.0% of disposable income, the second straight increase, from 3.8% in April, originally reported at 3.6%.

Zacks Investment Research