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May Personal Income Seen -6.0%;.....>

US DATA PREVIEW
US DATA PREVIEW: May Personal Income Seen -6.0%; PCE +9.0%
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-Personal income is set to drop a record -6.0% in May after stimulus checks from
the CARES Act drove a +10.5% surge in April
-May PCE should recover by +9.0% as states reopened after a -13.6% decline in
April that was primarily driven by plummeting food and beverage receipts and a
drop-off in healthcare and food service spending
-The headline price index is expected to be flat after falling for two months.
Core PCE price index also expected to be flat after falling -0.4% in April.
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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