Personal Income And Outlays Rise 0.4%

The growth in personal income kept pace with the rise in personal spending in May.
Personal income increased four-tenths of a percentage point last month, as did personal consumption expenditures (PCE), the U.S. Commerce Department reported on June 30.

Revised data from the department show that income and expenditures had identical rates of increase in April, although at seven-tenths of a percent April's increases were three-tenths of a percentage point higher than May's.

The core PCE price index, which does not include prices changes for food and fuel and is closely watched by policymakers at the Federal Reserve, rose two-tenths of a percentage point in May, the same as in April.

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