Personal income jumped 1.4% in May. A one-time $250 social security payment from the government stimulus program accounted 1.2 percentage points of the gain.
Spending increased a modest 0.3%, as rising consumer sentiment is still not translating into higher spending. Thus, the savings rate increased to 6.9%, the highest in 15 years.
Additional commentary is available at Examiner.com.
Friday, June 26, 2009
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