US consumer spending flat in May

4:50 AM, Jun 29, 2012   |    comments
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WASHINGTON (AP) - Americans were more cautious about spending in May while their income increased only slightly, indicating the faltering job market has stoked fears about the economy's health.

The Commerce Department says consumer spending showed no gain in May, the weakest figure since spending was unchanged in November.

Income growth edged up 0.2 percent, matching the modest April increase. Consumer spending on autos and other durable goods fell 0.4 percent.

Spending on non-durable goods, such as food and gas, dropped 0.8 percent. The decrease partly reflected falling gasoline prices. Economists hope cheaper gas will spur more spending in coming months.

The Associated Press

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