Mon, 02 Jul 2012 14:39:32 GMT
Gasoline price drive up US savings rate
Despite
enduring slowdown in economy US showed some positive trends in May. Household
income increased 0.2% in May whereas falling gasoline prices allowed consumers
to save more and brought savings rate from 3.7% to 3.9%. Meanwhile spending on
durable goods fell by 0.4%, while non-durable goods met 0.8% decline, however
spending on services increased by 0.3%.