Incomes Climb 0.2% While Spending Is Flat, Exactly In Line

grocery shopping, grocery store, food, teenager, teen girl, girls, food prices

Photo: Flickr / Bruce A Stockwell

UPDATE:Personal incomes grew by $25.4 billion, or 0.2 per cent, in May, in line with expectations.

Click here for updates >

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.

Read the full report here >


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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at