Click image for larger view
Bureau of Economic Analysis data showed that personal income increased $25.4 billion (0.2 percent), and disposable personal income (DPI) increased $18.5 billion (0.2 percent) in May. Personal consumption expenditures (PCE) decreased $4.7 billion, or less than 0.1 percent. Real (inflation-adjusted) DPI increased 0.3 percent while real PCE increased 0.1 percent.
Click image for larger view
Click image for larger view
Consumers decreased
spending on retail goods for the second month in a row during May (0.2 percent, seasonally adjusted), the first time that has happened in two years. If gas purchases are omitted, however, retail spending actually rose 0.1 percent. Sales at gas stations slumped 2.2 percent in May, the biggest retreat since December.
Auto sales rose 0.8 percent (seasonally adjusted). The increase was somewhat of a surprise since industry figures showed that total vehicle sales fell in May from April -- to a 13.7 million annual rate from 14.4 million. Excluding car sales, retail sales fell 0.4 percent.
Click image for larger view
Total
consumer debt outstanding jumped by a seasonally adjusted $17.1 billion (8.0 percent annualized). Revolving (mostly credit card) debt increased by $8.0 billion (11.2 percent annualized), while non-revolving debt (mainly student and auto loans) increased by $9.1 billion (6.5 percent annualized). In May, student loans comprised nearly two-thirds of the increase in non-revolving debt.
Click image for larger view
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.