US Retail Sales Drop Sharply in May Amid Tariff Concerns
TL;DR Summary
US retail sales fell by 0.9% in May, the largest drop in four months, mainly due to decreased auto purchases amid tariff concerns, but some sectors like online and clothing sales showed growth. Despite the decline, consumer spending remains supported by solid wage growth, though risks such as a slowing labor market and tariff impacts could dampen future growth.
- US retail sales fall sharply in May Reuters
- Americans cut back sharply on their spending last month amid tariffs CNN
- Retail sales fell 0.9% in May, worse than expected as consumers pulled back CNBC
- Consumers spending drops in May as tariffs fuel anxiety Axios
- US Retail Sales Decline by the Most Since Start of the Year Bloomberg
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