Personal Income and Outlays Released On 6/26/2014 8:30:00 AM For May, 2014 Prior Consensus Consensus Range Actual Personal Income - M/M change 0.3 % 0.4 % 0.2 % to 0.5 % 0.4 % Consumer Spending - M/M change -0.1 % 0.4 % 0.3 % to 0.6 % 0.2 % PCE Price Index -- M/M change 0.2 % 0.3 % 0.2 % to 0.3 % Core PCE price index - M/M change 0.2 % 0.2 % 0.1 % to 0.2 % 0.2 % PCE Price Index -- Y/Y change 1.8 % Core PCE price index - Yr/Yr change 1.5 % Highlights Personal income for May came in moderately healthy but spending was sluggish. Inflation remained below Fed goal but moved closer.
Personal income rose 0.4 percent in May, following a 0.3 percent advance the month before. Expectations were for a 0.4 percent boost. The important wages & salaries component increased 0.4 percent after a 0.3 percent gain in April.
Personal consumption posted a sluggish 0.2 percent rise in May versus no change the month before. Analysts forecast 0.4 percent for May.
PCE inflation came in at a monthly 0.2 percent for both May and April and coming in a little below expectations of 0.3 percent. Core PCE inflation monthly numbers were the same as headline for May and April and matched expectations.