BEA News: Personal Income and Outlays, May 2024

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

Personal income increased $114.1 billion (0.5 percent at a monthly rate) in May. Disposable personal income (DPI)—personal income less personal current taxes—increased $94.0 billion (0.5 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $56.4 billion (0.3 percent) and consumer spending increased $47.8 billion (0.2 percent). Personal saving was $806.1 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 3.9 percent in May.

The full text of the release can be found at www.bea.gov/news/2024/personal-income-and-outlays-may-2024.