Comment on Americans hold back on spending in May for the second straight month, gas prices a factor

Americans hold back on spending in May for the second straight month, gas prices a factor

WASHINGTON — Americans spent at the weakest pace in 20 months, a sign that high gas prices are taking a toll on the economy. Consumer spending was unchanged in May, the Commerce Department said Monday. That was the worst result since September 2009. And when adjusted for inflation, spending actually dropped 0.1 percent. April’s consumer spending figures were revised to show a similar decline when adjusting for inflation.

 

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