US consumer spending spiked a record 8.2% in May as personal incomes fell - Business Insider

Also in May, personal income declined 4.2%, according to the report. The drop — following a record spike in the previous month — "primarily reflected a decrease in government social benefits to persons as payments made to individuals from federal economic recovery programs in response to the COVID-19 pandemic continued, but at a lower level than in April," according to the report.

Spending in goods and services both contributed to the $892.6 billion increase in consumer spending in May. The leading contributor to the $590.4 billion jump in goods was spending on motor vehicles and parts, recreational goods, and vehicles. The $363.8 billion increase in services spending was led by healthcare, as well as food services and accommodations.

The personal savings rate, which surged in April, was 23.2% in May. The rate is personal savings as a percentage of disposable income. Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

Phone booth-like tiny room could be an office inside your living room - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
منبع: BusinessInsider - 🏆 729. / 51 ادامه مطلب »

US sets another record for single-day new coronavirus cases - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. nah looking pretty flat for tomorrow Less then 1000 a state if the math divides up. Where are the blaring headlines about the constant significant decline in deaths and an “best estimate” true fatality rate from the CDC in line with the flu? I get that fear drives the clicks but can we at least get a little balance?
منبع: BusinessInsider - 🏆 729. / 51 ادامه مطلب »