A new ChangeWave survey of 2,703 U.S. consumers points to a dip in the rate of spending growth for May. Importantly, the May survey shows the impact of higher energy costs and inflation on overall economic growth continues to escalate. And in a further sign of potential mid-year drift for the economy, consumer expectations and confidence are once again ticking downwards.

In terms of individual spending categories, several have edged slightly lower this month, but there is one retailer that continues to show momentum in the home entertainment market.

Report details include:

• Changes in Overall U.S. Consumer Spending
• A Comparison: Consumer Spending Behavioral Forecasts – Past 3 Years
• Consumer Spending on Electronics, Household Repairs, Travel/Vacation, Restaurants, Autos and other categories
• Next 90-day spending projections for several major retailers including Amazon (AMZN), Apple (AAPL), Bed, Bath and Beyond (BBBY), Best Buy (BBY), Costco (COST), JC Penney (JCP), Macys (M), Nordstrom (JWN), Target (TGT) and Wal-Mart (WMT)
• Leading Home Entertainment Retailers
• Impact of Inflation and Higher Energy Prices on Discretionary Spending – including shifts in consumer spending habits and driving behavior
• Changes in Consumer Sentiment and Expectations
• Changes in Consumer Confidence in the Stock Market
• Consumer Satisfaction with Personal Finances and Job Security
• Impact of the Economy on Investors – including Money Inflows and Outflows

Companies in the Report:

AMAZON (AMZN), APPLE (AAPL), BED BATH & BEYOND (BBBY), BEST BUY (BBY), COSTCO (COST), J.C. PENNEY (JCP), MACY'S (M), NORDSTROM (JWN), TARGET (TGT), WAL-MART (WMT)

The complete May Consumer Spending Report is available here.