Personal Income Report Shows Growth, But Not Enough

This morning May’s personal income and outlays report was released by the Bureau of Economic Analysis. Here’s your cheat sheet:

In May, personal income increased $36.2 billion, or 0.3%. Disposable personal income (DPI) increased $29.2 billion, or 0.2%. Compare that to April’s personal income increase of $37.7 billion, or 0.3%, and DPI increase of $27.9 billion, or 0.2%.

Personal consumption expenditures (PCEs) increased $4.6 billion last month, or less than 0.1%. In April, PCE increased $28.8 billion, or 0.3%.

Real disposable income increased 0.1% in May, while it decreased 0.1% in April. Real PCE decreased 0.1% in both May and April.

Personal income and outlays income increased 0.3%, though an increase of 0.4% had originally been expected. PCE, personal interest payments, and personal current transfer payments increased $6.2 billion in May, compared to a $30.3 billion increase in April.

Private wage and salary disbursements increased $14.1 billion in May, compared to an increase of $26.4 billion in April.

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