Consumer spending takes a dip

June 4, 2008

Marketing Daily: The rising cost of basic household expenses such as gas and food is affecting discretionary spending on all levels.

According to Discover Financial's "U.S. Spending Monitor," 56 percent of American consumers said they spent more in May than in April, and 46 percent said they expected to spend more in June than May. Much of that increase can be attributed to higher gas and food prices.