Obama Recovery: Americans Spend at Weakest Pace in 20 Months

Americans spend at weakest pace in 20 months

By CHRISTOPHER S. RUGABER
AP Economics Writer

WASHINGTON (AP) -- Americans spent in May at the weakest pace in 20 months, a sign that high gas prices and unemployment are holding back the economy.

Consumer spending was unchanged, 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. It marked the first decline in inflation-adjusted spending since January 2010.