U.S. personal income jumps, spending rises on stimulus checks


Just put these two stats in the category of more 'green shoots' for the U.S. economy. Personal income and consumer spending both rose in May, the U.S. Commerce Department announced Friday, boosted by the federal government's stimulus checks and tax cuts.

Personal income jumped 1.4 percent and consumer spending rose 0.3 percent. Economists surveyed by Bloomberg News had expected May personal income to rise 0.4 percent and consumer spending to increase 0.3 percent.