U.S. Consumer Spending Flat in May

June 26, 2011  by in UnCategorized   

By Aggregated Content in economic news on June 27, 2011 from http://c.moreover.com/click/here.pl?z4891668645&z=1250249030 Consumer spending was flat in May, the weakest reading since June 2010, the Commerce Department reported Monday. Personal income rose 0.3 percent. Wall Street economists had expected a 0.3 percent increase in incomes and a 0.1 percent gain in spending. The savings rate rose to 5.0 percent from 4.9 percent in April. Excluding inflation, disposable incomes rose 0.1 in May after falling 0.1 percent in April. Spending adjusted-for-inflation fell 0.1 percent for the second straight month. The personal consumption expenditure price index rose 0.2 percent in May and is up 2.5 percent in the past year.

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