MNI: US DATA: MAY PERSONAL INCOME -4.2%; PCE +8.2%...>

MNI: US DATA: MAY PERSONAL INCOME -4.2%; PCE +8.2%

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-US MAY PERS INC -4.2%; NOM PCE +8.2%; CHAINED PCE +8.1%

-US APR PERS INC REV +10.8%(PRV +10.5%); NOM PCE -12.6%(-13.6%)

-US MAY PCE CORE PRICE INDEX +0.1% V APR -0.4%; +1.0% Y/Y

-US MAY PCE PRICE INDEX +0.1% V APR -0.5%; +0.5% Y/Y

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U.S. personal income fell by -4.2% in May, primarily reflecting a a decline in

government social benefits (stimulus checks from the CARES Act) which drove a

+10.8% increase in April. That was partially offset by an increase in

unemployment insurance benefits, the Bureau of Economic Analysis said Friday.

PCE increased +8.2% following a -12.6% decline in April. That increase was

driven by spending on motor vehicles and recreational goods, as well as

healthcare and food accommodation services. The headline price index rose by

+0.1% in May after falling for two months and the core PCE price index also

increased +0.1% following a -0.4% decline in April.