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BEA News: Personal Income and Outlays, May 2023

BEA News: Personal Income and Outlays, May 2023

June 30, 2023

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Personal income increased $91.2 billion (0.4 percent at a monthly rate) in May. Disposable personal income (DPI)—personal income less personal current taxes— increased $86.7 billion (0.4 percent). Personal outlays—the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments—increased $22.7 billion (0.1 percent) and consumer spending increased $18.9 billion (0.1 percent). Personal saving was $910.3 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.6 percent in May.

The full text of the release can be found at www.bea.gov/news/2023/personal-income-and-outlays-may-2023.
Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.