US retail sales fall sharply
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Investors were closely watching monthly retail sales to see how consumers are responding to increased tariffs.
Retail sales dropped by a sharp -0.9 percent for May, even worse than the market expectation of -0.6 percent. Click to read.
The decrease in retail spending was driven by a steep decline in car sales, just two months after consumers rushed to make car purchases before President Donald Trump’s tariffs were scheduled to go into effect.
Retail sales slid in May amid an ongoing reset in U.S. trade policy that has both consumers and businesses watching what they spend. U.S. retail and food services were $715.4 billion in May, down
The Federal Reserve headlines the central banks slated to weigh in on interest rates in the coming days. President Trump [has turned up the pressure](
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