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June 27, 2013 CONSUMER SPENDING TURNS UP IN MAY Mar. Apr. May Personal Income 0.2% 0.1% 0.5% Currentdollar DPI 0.2% 0.1% 0.5% Real DPI 0.3% 0.3% 0.4% Real PCE 0.3% –0.1% 0.2% PCE Prices –0.1% –0.3% 0.1% 3.0% 3.2% Personal income increased 0.5 percent in May after increasing 0.1 percent in April. Wages and salaries, the largest component of personal income, increased 0.3 percent in May after increasing 0.1 percent in April. Services industries’ payrolls accelerated. Good industries’ payrolls turned up. Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in May after increasing 0.1 percent in April. Real DPI, income adjusted for taxes and inflation, increased 0.4 percent in May after increasing 0.3 percent in April. Real consumer spending, spending adjusted for price changes, rose 0.2 percent in May after falling 0.1 percent in April. Spending on nondurable goods increased 0.5 percent in May after falling 0.3 percent in April. PCE prices increased 0.1 percent in May after decreasing 0.3 percent in April. Excluding food and energy, PCE prices increased 0.1 percent in May after remaining flat in April. Personal saving rate Personal saving as a percent of DPI was 3.2 percent in May, compared with 3.0 percent in April. Personal Saving Rate 2.6% Percent change (monthly rate) Real Disposable Personal Income and Real Consumer Spending 1.0 0.8 0.6 Real Disposable Personal Income 0.4 0.2 0.0 Real Consumer Spending -0.2 -0.4 Feb Mar Apr May BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: On August 2, 2013, the June estimates of personal income and outlays and revised estimates for 1959 through May 2013 will be released. Contact: Jeannine Aversa 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce