Are You Earning More But Spending Less? - KALB-TV News Channel 5 & CBS 2

Are You Earning More But Spending Less?

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(NBC) Americans are earning more, and spending less. That's according to new data from the U.S. Bureau of Economic Analysis.

Personal income rose in May. And disposable income is up nearly two percent from a year ago. But instead of spending the extra cash, most are choosing to stash it. As of may, Americans were saving about five percent of their monthly income.

Consumers cut back on eating out, going to the movies, and buying clothes. They also spent less on necessities like groceries and utilities.  
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