US: Consumer Income and Spending Grow While Inflation Cools in May

Personal income grew 0.5% month-on-month (m/m) in May, up from April’s 0.3% gain, and ahead of market expectations (0.4%). Accounting for inflation and taxes, real personal disposable was also up 0.5% m/m in May, relative to a flat reading in April (revised up from a -0.1% decline previously). Personal consumption expenditures rose by 0.2% m/m. […]

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