Personal income increased 0.5 percent in May after increasing 0.1 percent in April. Wages and salaries, the largest component of personal income, increased 0.3 percent in May after increasing 0.1 percent in April. Services industries’ payrolls accelerated. Good industries’ payrolls turned up.
Current-dollar disposable personal income (DPI),after-tax income, increased 0.5 percent in May after increasing 0.1 percent in April.
Real DPI, income adjusted for taxes and inflation, increased 0.4 percent in May after increasing 0.3 percent in April.
Real consumer spending, spending adjusted for price changes, rose 0.2 percent in May after falling 0.1 percent in April. Spending on nondurable goods increased 0.5 percent in May after falling 0.3 pe≈rcent in April.
PCE prices increased 0.1 percent in May after decreasing 0.3 percent in April. Excluding food and energy, PCE prices increased 0.1 percent in May after remaining flat in April.
Personal saving rate
Personal saving as a percent of DPI was 3.2 percent in May, compared with 3.0 percent in April.
For more on Consumer Spending, see the full report.