June 27, 2011
Income Up, Spending Down In May
Personal income in the U.S. increased 0.3 percent in May, but consumer spending fell 0.1 percent after adjusting for inflation, according to the U.S. Bureau of Economic Analysis.
Disposable personal income rose 0.2 percent from April to May, but when adjusted for inflation the increase was only 0.1 percent.
Altogether the increase in personal income was $36.2 billion. Private wages and salaries rose $14.1 billion, with service industries providing $9.8 billion of that boost.
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