Personal Income Higher in May

Washington, DC, June 28, 2010--May personal income rose 0.4%, slightly lower than economists expectations, according to the Commerce Department.

Also, the May personal savings rate was 4%, the highest figure since September 2009.

Both figures are key to the U.S. economic recovery. The U.S. economy is about 70% based on consumer spending.

Spending was flat in April, so the May number represents a slight increase. But the personal income number in May represented a slight decrease from April.