According to recent data from the U.S. Bureau of Economic Analysis, personal income in May decreased $109.6 billion (0.4% at a monthly rate). Disposable personal income (DPI – personal income less personal current taxes) decreased $125 billion (0.6%) and personal consumption expenditures (PCE) decreased $29.3 billion (0.1%). Personal outlays (the sum of PCE, personal interest payments, and personal current transfer payments) decreased $27.6 billion in May. Personal saving was $1.01 trillion in May and the personal saving rate (personal saving as a percentage of disposable personal income) was 4.5%.
Click here to read the full report at the Bureau of Economic Analysis.
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