US personal spending rose 0.9% in May

United States personal spending rose 0.9% in May, beating the 0.7% consensus estimate, while April was revised higher from 0.0% to 0.1%. Real spending was 0.6% (vs 0.5% expected) - the largest month rise in six years. 

Personal income met expectations at 0.5% growth, but April was revised from 0.4% to 0.5%. The reports underscore much of Q1's weakness was temporary, and also that the labour market improvements are spilling over to consumption.