Personal income in the U.S. rose by more than expected in the month of May, according to a report released by the Commerce Department on Thursday, with the report also showing an increase in personal spending that matched economist estimates.
The report said personal income rose by 0.5 percent in May after edging up by 0.1 percent in April. Economists had been expecting income to increase by about 0.2 percent.
Additionally, the Commerce Department said personal spending rebounded by 0.3 percent in May following a 0.3 percent drop in the previous month. The increase came in line with expectations.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.