UPDATE 2-U.S. consumers cut spending in May, pocket cash

Newswire

(Adds analyst comment, paragraph 5-7; background, paragraphs 9, 13) By Tim Ahmann WASHINGTON, June 28 (Reuters) - U.S. consumers trimmed their spending slightly in May, breaking a string of five consecutive monthly gains as they stayed away from auto showrooms, the government said on Friday. Personal spending fell 0.1 percent last month -- the first drop since November -- after posting a revised 0.6 percent rise in April, the Commerce Department reported. The department said the dip ...

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