US Consumer Spending Declines in May Amid Tariff Concerns
TL;DR
U.S. retail sales declined by 0.9% in May, driven by a drop in auto and appliance sales, amid ongoing tariff concerns, though some categories saw increased spending; the data complicates the economic outlook, reflecting consumer caution or a post-spending slowdown.
Topics:businesseconomy#auto-sales#consumer-spending#economic-indicators#economy#retail-sales#tariffs
- Consumers spending drops in May as tariffs fuel anxiety Axios
- Americans cut back sharply on their spending last month amid tariffs CNN
- Weak US retail sales, manufacturing output point to softening economy Reuters
- Retail sales slide in May on lower gas, auto sales amid tariff uncertainty Yahoo Finance
- Grocery sales climb, despite outsized consumer inflation fears Supermarket News
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