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

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Photo: Flickr / Bruce A Stockwell

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

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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 >

ORIGINAL:

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.

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