Personal Income, Spending, Savings Rise

The Commerce Department said spending rose 0.2 percent in May after being flat in April. Analysts were looking for consumer spending to rise by 0.1 percent.

With consumer spending accounting for roughly 70 percent of U.S. GDP, investors are closely watching any data figures tied to the consumer.

On Friday a government report showed consumer spending rose 3.0 percent during the January-March quarter, lower than the 3.5 percent the government had estimated.

Personal income rose 0.4 percent in May after gaining 0.5 percent in April. Analysts were looking for personal income to rise by 0.5 percent.

Real disposable income rose 0.5 percent while the personal savings rate ticked up to 4.0 percent from 3.8 percent in April.