US: Personal income increased $67.1 billion (0.4%) in May

Eren Sengezer FXStreet

"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

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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