Personal Spending Rises in May

Personal spending rose 0.3% in May, after the largest drop in three years, the Commerce Department reported Thursday.

The rise followed a 0.3% decline in April that was the largest drop since September 2009.

The rise in May, spending matched economists’ forecast, Bloomberg News reported.

Personal incomes increased 0.5%. Economists’ had forecast a 0.2% rise in incomes, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.