Photo: Flickr / Bruce A Stockwell
UPDATE:Personal incomes grew by $25.4 billion, or 0.2 per cent, in May, in line with expectations.
Spending declined slightly during the month, off $4.7 billion, or less than 0.1 per cent.
Wage increases were led by the service sector, which expanded by $8.3 billion in May. However, manufacturer payrolls contracted sequentially, falling $4.5 billion.
Minutes away from the first of several key economic announcements in the U.S.: Personal Income and Spending.
Economists polled by Bloomberg forecast incomes advanced 0.2 per cent as spending remains flat.
The report followed a relatively strong spending report in April, when it gained 0.3 per cent sequentially.
The Bureau of Economic Analysis will release data at 8:30 a.m.