Washington, DC—(ENEWSPF)—June 27, 2011. The following statement is attributed to U.S. Commerce Department Chief Economist Mark Doms.
The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for May 2011. Personal income rose 0.3 percent in May, slightly below private-sector forecasts of a 0.4-percent increase. Wages and salaries, the largest component of income, rose 0.2 percent, supported by a gain in hourly earnings. Real consumer spending declined 0.1 percent,…
