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 small drop of 0.1% in April. This happened mainly because car sales decreased a lot, after many people bought cars in March to avoid President Trump's new taxes on imported cars. Even though people feel less confident about the economy, steady prices and low unemployment might help keep spending at a moderate level in the next few months. If we don't include gas, cars, and restaurants, sales actually 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 decreases, online stores, clothing stores, and furniture stores had more sales. The drop in retail sales is probably connected to worries about higher prices because of Trump's tariffs.
June 18th, 2025
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