US: Personal income increased $67.1 billion (0.4%) in May
|"Personal income increased $67.1 billion (0.4 percent) in May," the Bureau of Economic Analysis announced on Friday.
Key highlights:
- Disposable personal income (DPI) increased $71.7 billion (0.5 percent) and personal consumption expenditures (PCE) increased $7.3 billion (0.1 percent)
- Real DPI increased 0.6 percent in May and Real PCE increased 0.1 percent. The PCE price index decreased 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
- The increase in personal income in May primarily reflected increases in personal dividend income, compensation of employees, and nonfarm proprietors’ income
- The largest contributor to the increase in real PCE in May was spending for services, specifically electricity and gas
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