Echoing April's data, Personal Income rose more than expected in May and Personal Spending rose less than expected.

Income rose 0.5% MoM (better than the 0.3% MoM expected)

Spending rose 0.3% MoM (worse than the 0.5% MoM expected)

On a YoY basis, Americans lived beyond their means for the 4th consecutive month as incomes grew 4.1% and spending rose 4.2%...

On the income side, government wages growth slowed modestly in May as Private worker wages grew faster...