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.

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.