US: Personal Income Up, But Spending Loses Momentum

Personal income rose 0.5% month-on-month (m/m) in May, meeting the consensus estimate. April’s growth was revised up to 0.5% (from the 0.4% m/m reported the month prior). Compensation of employees (+0.5% m/m) and proprietors’ income (+1.5% m/m) were the biggest contributors to income growth. Removing the effect of price changes and taxes, real personal disposable […]

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