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Statement from Commerce Chief Economist Mark Doms on Personal Income and Outlays in May 2010

Submitted on June 28, 2010 - 9:51am
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FOR IMMEDIATE RELEASE

Monday, June 28, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Commerce Chief Economist Mark Doms on Personal Income and Outlays in May 2010

The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays data for May 2010.  Personal income increased 0.4 percent, real disposable income rose 0.5 percent, and real personal consumption expenditures advanced 0.3 percent.

“Solid gains in personal income and consumer spending in May are consistent with continued economic growth,” said U.S. Commerce Department Chief Economist Mark Doms. “The most recent figures on production, hours, income and spending all demonstrate that the economic recovery remains on track.”