U.S. Personal Income Increased By 0.5% in May

The U.S. Bureau of Labor Statistics reported this morning that real personal income rose by 0.5% in May, and personal consumption expenditures rose by 0.3%. With inflation running round 0.1% for the month, this is a healthy growth in incomes, spending and savings for the month. In the short-term this is an indicator of continued economic growth. In the longer-term, this growth in savings is a healthy sign for future investment.