U.S. PERSONAL INCOME ROSE 0.2 PCT IN MAY
U.S. personal income rose 0.2 pct, or
7.9 billion dlrs, in May to a seasonally adjusted annual rate
of 3,630.0 billion dlrs, the Commerce Department said.
    The increase followed a revised 0.4 pct rise in April. The
department previously estimated April income rose 0.3 pct.
    The department also revised up the March personal income
rise to 0.3 pct from a previously reported 0.2 pct.
    Personal consumption expenditures rose 0.1 pct, or 1.5
billion dlrs, to 2,893.3 billion dlrs in May after rising 0.6
pct or 18.6 billion dlrs in April, the department said.
    The department said both the April and May increases in
personal income were restrained by lower subsidy payments to
farmers and by initial payments to a newly established
retirement fund for federal government employees in April.
    Wages and salaries increased 8.8 billion dlrs in May after
a 7.0 billion dlr rise in April, while manufacturing payrolls
were up 1.6 billion dlrs in May after falling 1.3 billion dlrs
in April.
    Farmers' incomes fell 11 billion dlrs in May after
decreasing 6.7 billion dlrs in April due to lower farm subsidy
payments, the department said.
 Reuter
