Personal income rose 0.3 percent in April, to an annualized rate of $8.94 trillion, the Commerce Department reported last week. That gain was about what economists had expected.
Personal spending rose, too, for a fifth straight month, edging up 0.5 percent to $7.32 trillion. That was a little below the 0.7 percent forecast.
Adjusted for inflation, real spending rose just 0.2 percent in the month, and advanced 1.6 percent annually about half the pace of the first quarter. Spending on durable goods rose 1.4 percent.