- Personal income up 0.5% in May, in line with expectations.
- Personal spending advances 0.2%, less than the 0.5% expected.
- Key inflation gauge advances 0.3%, below the 0.4% consensus.
The report of personal income and spending showed figures without great surprises. The most awaited data, the core price index of personal consumption spending rose 0.3% in May, below the 0.4% expected; the annual rate fell from 4.9% to 4.7%.
The personal income was up 0.5% in May matching April’s 0.5% gain (revised from 0.4%) and in line with expectations. The personal spending it climbed 0.2%, below the 0.5% consensus, and down from 0.6% in April (revised from 0.9%).
At the same time, the report on requests for unemployment benefits was published. The dollar pulled back after the data, paring gains. Wall Street futures improved, which served to ease losses.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
