The following statistics were released today on the state of the US economy:

Personal income rose 0.2% in May, while personal spending was unchanged. The PCE price index fell -0.2% for the month, though the core rate rose 0.1%. On a year-over-year basis the index rose 1.5% overall, while the core rate rose 1.8%.

The consumer sentiment index fell to 73.2, which puts the index down to a new low for the year.

The Chicago Purchasing Managers Index rose slightly to 52.9, but the new orders component is the weakest since September 2009, pointing to slowing conditions this summer for Chocago businesses.

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Dale Franks
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