United States financial numbers for May 2010 are in, and according to Bloomberg Business, individual incomes outpaced consumer spending. This made it possible for households to boost their savings and support the economic recovery, although how slower spending boosts the nation's economic recovery is the question. It might just be viewed as another instance of reporting sleight of hand, similar to the way U.S. unemployment numbers were being reported the past few months.

Where the money needs to go – consumer spending

Reports show that the table is ready for consumer spending. Payroll numbers are up, Americans are working longer and salaries are trending upward. Then again, Bloomberg reports in another story the large number of jobless in The US really lowers salaries as there are so many applicants (supply and demand), so perhaps one hand doesn't know what the other is doing in Michael Bloomberg's domain. Whichever the case, the Federal Reserve has kept interest rates extremely steady, so fewer folks may have to dive to the nearest cheap personal loans bunker to eat.

The consumer spending isn’t going to propel recovery

Nevertheless, as RBS Securities economist Omar Sharif told Bloomberg, the level of consumer spending should be enough for sustained growth, but not enough to drive recovery efforts. Yet despite underwhelming growth in consumer spending, numbers still beat the median estimate of 61 economists surveyed by Bloomberg (.1 percent gain). Wages were up .5 percent (1.3 percent given that March), which was the largest increase over three months given that December 2007 when the current recession is believed to have begun, and individuals looked to the easy loans a lot more often than before. Savings increased considerably: 4 percent from April into May ($ 454.3 billion). That's the highest such increase in a single month given that September 2009, reports Bloomberg.

It's good news, for one of the most part

According to Sal Guatieri, American consumers have effectively rolled with the punches. "As long as jobs are coming back, individuals will continue to spend," he said to Bloomberg. Paying down debt such as from a fast personal cash loan and rebuilding savings are really great financial goals that will continue to see a lot of improvement as positive economic factors continue to emerge.