From the BEA:
Personal income increased $53.7 billion, or 0.4 percent, and disposable personal income (DPI) increased $49.0 billion, or 0.4 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $24.4 billion, or 0.2 percent. In April, personal income increased $59.4 billion, or 0.5 percent, DPI increased $63.7 billion, or 0.6 percent, and PCE increased $1.4 billion, or less than 0.1 percent, based on revised estimates.
Let's look at the data:
Wages at service producing industries are in a clear uptrend, as are
Wages at goods producing industries.
Disposable personal income is also increasing.
Real PCEs are in a clear uptrend, as are
real service expenditures.
Non-durable goods purchases, however, appear to have stalled.
But purchases of durable goods is also increasing.
These figures point to an economy that continues to expand.