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%.