New retail data: Consumers cut spending in May, underscoring how tentative the recovery is

Retail data: Consumers cut spending in May

NEW YORK — New spending data show Americans cut back in May after spending slightly more in April than a year earlier, underscoring that the economic recovery remains fragile.

Cool weather and a quirk in the calendar — a late Memorial Day weekend that hurt May but should boost June figures — dampened spending on almost everything from clothing to major appliances, according to the latest figures from MasterCard Advisors’ SpendingPulse.

But recent weakness also is due to high unemployment, stock market jitters and the end of federally funded rebates on energy-efficient appliances, analysts said.