May 2011 Personal Income and Outlays, Retail Sales and Consumer Debt

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Bureau of Economic Analysis data showed that personal income increased $36.2 billion (0.3 percent), and disposable personal income (DPI) increased $29.2 billion (0.2 percent), in May. Personal consumption expenditures (PCE) increased $4.6 billion (less than 0.1 percent). Real (inflation-adjusted) DPI increased 0.1 percent while real PCE decreased 0.1 percent.
 

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Retail sales fell by 0.2 percent in nominal terms during May, breaking a 10-month string of increases. With a drop of 2.9 percent, motor vehicle sales dragged the total lower.
 

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Total consumer debt outstanding increased for a eighth month in May, at a seasonally adjusted and annualized rate of 2.5 percent. Once again, the increase in non-revolving credit was broader based than just student loans; loans at commercial banks and credit unions also expanded.