At 8:30 a.m. ET, we’ll get the May reading of personal income and spending.
Economists estimate that income climbed by 0.2%, while spending increased at a 0.3% rate.
“Much of the increase in spending is … due to a much lower saving rate which appears to have stabilised over the past couple of months at 2.5 per cent,” said Wells Fargo’s John Silvia. “We continue to expect consumer spending to increase at a modest pace over the next two years.”
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