Reported about 6 hours ago
Retail sales in the US dropped 0.9% in May as consumers became more cautious following a spending surge in March to avoid President Trump's tariffs. The decline was largely attributed to a significant drop in auto sales, with other sectors like home goods and electronics also seeing decreases. Despite the drop, online retail and clothing sales experienced growth. Some companies, facing rising costs from tariffs, are reporting reduced orders and even hiring freezes as they navigate the uncertain economic landscape.
Source: YAHOO