Personal income increased $181.6 billion (0.7 percent at a monthly rate) in May, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI)-personal income less personal current taxes-increased $164.9 billion (0.7 percent), and personal consumption expenditures (PCE) increased $156.1 billion (0.7 percent). Personal outlays-the sum of PCE, personal interest payments, and personal current transfer payments-increased $159.9 billion in May. Personal saving was $704.2 billion in May, and the personal saving rate-personal saving as a percentage of DPI-was 3.0 percent. Full Text

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the first quarter of 2026 (January, February, and March), according to the third estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. The contributors to the increase in real GDP in the first quarter were increases in investment, exports, government spending, and consumer spending. Imports, which are a subtraction in the calculation of GDP, increased. At the state level, real GDP ranged from a 4.5 percent increase in Washington to a 1.6 percent decrease in South Dakota. Full Text

The U.S. current-account deficit resulting from international economic transactions widened by $5.8 billion, or 2.6 percent, to $226.8 billion in the first quarter of 2026, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised fourth-quarter deficit was $221.1 billion. The first-quarter deficit was 2.9 percent of current-dollar gross domestic product, up from 2.8 percent in the fourth quarter. The U.S. net international investment position, the difference between U.S. residents' foreign financial assets and liabilities, was -$21.27 trillion at the end of the first quarter of 2026. Assets totaled $43.37 trillion, and liabilities totaled $64.64 trillion. At the end of the fourth quarter of 2025, the net investment position was -$21.87 trillion (revised). Full Text]]>