Economic news

U.S. personal income surges 0.4% in May

Personal income in the U.S. in May 2017 increased by 0.4% after rising 0.3% a month earlier, the Department of Commerce reported. Personal spending grew by 0.1%.

Experts predicted Americans' income to grow by 0.3%, spending - by 0.1%.

Americans do not spend money, preferring to economize, despite weak inflation, which increases purchasing power, experts say.

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