Consumers Spend Less in June

Washington, DC, Aug. 2, 2011 — U.S. consumers cut back on their spending in June for the first time in almost two years, according to the Commerce Department.

Consumer spending dropped 0.2% in June, the Commerce Department said Tuesday. Some of the decline was caused by falling food and energy prices. When excluding spending on those items, consumer spending was flat.

Incomes rose 0.1%, the weakest growth since September.