June 29, 2007
Income, spending increases in May
By Matthew L. Brown
According to the U.S. Commerce Department's Bureau of Economic Analysis, Americans' personal income and personal disposable income increased 0.4 percent in May.
The bureau said personal income for the nation increased by $47.3 billion, and disposable personal income grew by $37.6 billion.
In April, personal income fell by more than $27 billion.
The bureau also reported that private wage and salary disbursements increased $24.9 billion in May, in contrast to a decrease of $36.4 billion in April.
The report, issued today, also details rental incomes, proprietors' incomes, personal taxes, contributions to government social insurance and other economic data.
The bureau said personal income for the nation increased by $47.3 billion, and disposable personal income grew by $37.6 billion.
In April, personal income fell by more than $27 billion.
The bureau also reported that private wage and salary disbursements increased $24.9 billion in May, in contrast to a decrease of $36.4 billion in April.
The report, issued today, also details rental incomes, proprietors' incomes, personal taxes, contributions to government social insurance and other economic data.
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