Americans' incomes and consumption rose roughly by as much as expected last month amid a small dip in price pressures.
The savings rate on the other saw a large increase, jumping from 5.1% in the month before to 5.5% for May.

Personal income and spending grew by 0.4% and 0.1% month-on-month, according to the Department of Commerce.

Economists' forecasts had called for a rise 0.3% and 0.1%, respectively.

However, revisions to data for the prior two months meant Friday's numbers were largely as expected.

The same was true on the inflation front, with the price deflator for personal consumption expenditures slipping from a 1.7% year-on-year clip in April to 1.4%, as economists had anticipated.

At the 'core' level, which excludes the more volatile energy and food categories prices dipped from a 1.5% clip in April to 1.4% for May.