Consumer Spending, Incomes, Rise in May
Washington, DC, June 27, 2013 -- Consumer spending rose 0.3% in May and personal incomes rose 0.5%, according to the Commerce Department.
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The increase in spending reverses a 0.3% decline in April, the largest drop in four years.
Personal income increased 0.5% as wages, investment income and payments for entitlements all rose at seasonally adjusted annual rates.
Spending was led by purchases of manufactured durable goods.