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% decrease in April. This drop was mainly because car sales fell a lot, even though they went up in March as people tried to avoid President Trump's 25% tax on imported cars and parts. Even though people are less confident about the economy, steady prices and low unemployment might keep spending at a moderate level in the next few months. Sales, not including things like gas, cars, and restaurants, went up by 0.4% last month, showing that 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 higher sales. The overall decrease in retail sales is connected to worries about higher prices because of Trump's taxes.
June 18th, 2025
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