In May, personal income increased by $114.1 billion, with disposable personal income rising by $94.0 billion and personal consumption expenditures increasing by $47.8 billion. Real DPI and PCE saw gains of 0.5 percent and 0.3 percent respectively, with goods rising by 0.6 percent and services by 0.1 percent. The increase in income was driven by compensation, personal income receipts on assets, and government social benefits. Spending on services and goods saw increases, with health care, housing, and transportation services leading the way. Personal outlays increased by $56.4 billion, while personal saving stood at $806.1 billion with a 3.9 percent saving rate. Prices saw slight decreases, with the PCE price index dropping less than 0.1 percent. Real PCE rose by 0.3 percent, largely due to increased spending on goods and services. Future updates on personal income and outlays are expected on September 27, 2024.