US June individual expense and income growth beyond expectation

US Department of Commerce announced that the June US individual expand rose 0.4% after the seasonal adjustment and the June individual income also climbed up 0.3%. The two figures both exceeded 0.1% over the growths revised in May and were 0.1% higher than the market expectation. The June individual expense growth outpaced income growth, reflecting that the national consumption was not hurt by the sagging economy and slowing income growth. Besides, US June individual savings rate stood at positive 1.1% and the May savings rate was revised from minus 1.1% to positive 1.2%.

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