USD: consumers increase spending in May but not by much

US consumers increased their spending in May, but only marginally. Personal spending grew by 0.2% but this was a fall from 0.5% the month before and below expectations of 0.4%. Meanwhile, personal income increased by 0.4% in the same month

The University of Michigan’s consumer sentiment increased in June from the month before, but still came in below expectations. A reading of 98.2 was ever-so-slightly above 98 in May, but not as good as the 99.1 analysts had forecast.

We have the Markit manufacturing PMI for the US today so it will be interesting to see how the figures compare to the UK’s and Eurozone’s.