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 was mainly due to a big drop in car sales. Car sales had gone up in March because people bought cars to avoid President Trump's 25% tax on imported cars and parts. Even though people are less sure about the economy, steady prices and low unemployment might keep spending at a reasonable 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 linked to worries about higher prices because of Trump's tariffs.
June 18th, 2025
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