US consumers spent $4.7 billion less in May than the previous month even as incomes rose 0.2 percent, the Commerce Department said, confirming the economy's sluggish turn in the second quarter. In data that showed Americans are still extremely cautious about opening their wallets, personal incomes grew at the same 0.2 percent pace as the previous month, and disposable personal income grew 0.2 percent as well. But wages and salaries, the largest component of incomes, were unchanged in the month. Consumer spending fell just 0.1 percent, reversing the previous month's trend in which spending surpassed income growth and consumers ate into savings. Prices meanwhile were subdued: the personal consumption expenditure price index, a strong indicator of the inflationary trend, decreased 0.2 percent overall; when volatile food and energy are stripped out, it rose a bare 0.1 percent month-on-month, the same pace as April.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor