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Personal Income Growth Slowing in U.S.

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After rising for many months during 2014 and the first few months of 2015, monthly U.S. disposable income growth has stabilized and tapered off, tempering consumer spending and saving, according to data released last week by the U.S. Department of Commerce.

Personal disposable (after-tax) income jumped 4 percent for the second straight month in May on a 12-month smoothed basis, slightly below the 4.1% increases of January, February and March, but well above the monthly increases seen in 2013 and most of 2014 as employers continued to add people to their payrolls and unemployment improved.

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