US personal income, spending rise in May
Gain led by private wages, salaries, says Bureau of Economic Analysis
By Ovunc Kutlu
ISTANBUL (AA) - Americans' personal income rose 0.4% in May, more than market expectations, according to official figures released Friday.
Personal income increased $91.2 billion from the previous month, according to data from the Commerce Department's Bureau of Economic Analysis.
The figure came above the market expectation of a 0.3% increase, after posting a 0.3% gain in April.
The gain mostly reflected increases in compensation, which was led by private wages and salaries, the agency said in a statement.
Personal spending increased by $18.9 billion, or 0.1%, from the previous month.
That figure, however, came below the market estimates of a 0.2% gain, after increasing 0.6% in April.
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