Consumer Spending Edges Down in May

Washington, DC, June 29, 2012 -- Consumers decreased their spending in May and increased their savings, according to the Commerce Department.

Personal spending fell less than 0.1% in May, the first decline since last November.

The savings rate, which fell to a four-year low in February, climbed to 3.9% last month from 3.7% in April.

Disposable income climbed 0.3%, largely reflecting falling gasoline prices.