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Retail sales fell sharply in May as consumers pulled back from a spending surge early this year to get ahead of President Donald Trump’s sweeping tariffs on nearly all imports.
Sales at retail stores and restaurants dropped 0.9% in May, the Commerce Department said Tuesday, after a decline of 0.1% in April. Sales jumped 1.5% in March. The figure was pulled down by a steep drop in auto sales, after Americans ramped up their car-buying in March to get ahead of Trump’s 25% duty on imported cars and car parts. Excluding autos, sales fell 0.3% in May.
https://www.wthr.com/article/news/nation-world/retail-sales-may-decline-amid-tariff-impact/507-6751b939-4735-4e58-9763-07d6d076cf19