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Consumer spending up modestly
WASHINGTON, (UPI) -- Consumer spending rose in May after lying flat in April, the U.S. Commerce Department said Monday.
With unemployment at 9.7 percent, spending rose in May by 0.2 percent, helped by two consecutive months of rising incomes, the department said.
Incomes rose 0.4 percent in May after rising 0.5 percent a month ago.
Consumer spending rose by $22 billion, the Commerce Department said.
Real disposable income rose 0.5 percent in the month for the third consecutive month of gains. Personal savings, up to 3.8 percent in April, rose to 4 percent in May.
Commerce said core prices, which exclude energy and food items, rose 0.2 percent in the month, slightly higher than the consensus forecast of 0.1 percent. The price index for all items, including food and energy, fell less than 0.1 percent in May.
WASHINGTON, (UPI) -- Consumer spending rose in May after lying flat in April, the U.S. Commerce Department said Monday.
With unemployment at 9.7 percent, spending rose in May by 0.2 percent, helped by two consecutive months of rising incomes, the department said.
Incomes rose 0.4 percent in May after rising 0.5 percent a month ago.
Consumer spending rose by $22 billion, the Commerce Department said.
Real disposable income rose 0.5 percent in the month for the third consecutive month of gains. Personal savings, up to 3.8 percent in April, rose to 4 percent in May.
Commerce said core prices, which exclude energy and food items, rose 0.2 percent in the month, slightly higher than the consensus forecast of 0.1 percent. The price index for all items, including food and energy, fell less than 0.1 percent in May.
