WASHINGTON, May 1 (UPI) -- Economists looking at consumer spending say the powerful economic indicator points to a slow recovery for the U.S. economy.

The Commerce Department said Wednesday the economy grew by 0.6 percent for the second consecutive quarter, just a few ticks above a contraction.

Consumer spending, which grew by 1 percent, is responsible for about two-thirds of the country's economic activity.

Analysts say the slow spending contributes to job layoffs, which further slows recovery.

With a credit crisis and home equity in decline, the tight spending "is not a fluke or a technical quirk," John Silvia, chief economist at Wachovia in Charlotte, N.C., told The New York Times Thursday. "It's fundamental. Real disposable income has been squeezed."