June 18th, 2025
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According to the Commerce Department, retail sales in the US went down by 0.9% in May, after a 0.1% drop in April. This was mainly because car sales fell a lot, after many people bought cars in March to avoid President Trump's 25% tax on imported cars and car parts. Even though people are less confident about the economy, steady prices and low unemployment could help keep spending at a normal level in the next few months. Sales, not including gas, cars, and restaurants, went up by 0.4% last month, which means people are still buying some things they don't strictly need. While many areas saw big drops, online stores, clothing stores, and furniture stores had more sales. The drop in retail sales is probably linked to worries about higher prices because of Trump's tariffs.
June 18th, 2025
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