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 decrease was mainly because car sales fell a lot, after going up in March as people tried to avoid President Trump's 25% tax on imported cars and car parts. Even though people are less confident about the economy, steady price increases and low unemployment might keep spending at a reasonable level in the next few months. Sales, not including things like gas, cars, and restaurants, went up by 0.4% last month, which shows that people are still buying some optional items. While many areas saw big drops, online stores, clothing stores, and furniture stores had more sales. The drop in retail sales is thought to be connected to worries about higher prices because of Trump's taxes.
June 18th, 2025
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