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June 29, 2016 Real Consumer Spending Slows in May Mar. Apr. May Personal income increased 0.2 percent in May after increasing 0.5 percent in April. Wages and salaries, the largest component of personal income, increased 0.2 percent in May after increasing 0.5 percent in April. Personal Income 0.3% 0.5% 0.2% Current-dollar disposable personal income (DPI), after-tax income, increased 0.2 percent in May after increasing 0.5 percent in April. Currentdollar DPI 0.3% 0.5% 0.2% Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in May after increasing 0.2 percent in April. Real DPI 0.3% 0.2% 0.1% Real consumer spending (PCE), spending adjusted for price changes, increased 0.3 percent in May after increasing 0.8 percent in April. Spending on durable goods increased 0.6 percent in May after increasing 2.6 percent in April. PCE prices increased 0.2 percent in May after increasing 0.3 percent in April. Excluding food and energy, PCE prices increased 0.2 percent in May, the same increase as in April. Personal saving rate Personal saving as a percent of DPI was 5.3 percent in May and 5.4 percent in April. Real PCE –0.1% 0.8% 0.3% PCE Prices 0.1% 0.3% 0.2% Personal Saving Rate 6.0% 5.4% 5.3% Percent Change (Monthly Rate) Real Disposable Personal Income and Real Consumer Spending 0.8 0.6 0.4 0.2 0.0 -0.2 Feb Mar Real Disposable Personal Income Apr May Real Consumer Spending Source: .ureau of Economic Analysis 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, 2016, the June estimates of Personal Income and Outlays will be released. Contact: Jeannine Aversa 301.278.9003 Bureau of Economic Analysis, U.S. Department of Commerce