Consumer spending declined sharply in May, with retail sales dropping 0.9% according to the Commerce Department. The decrease was driven by lower gas sales and growing economic uncertainty. Excluding autos, sales fell 0.3%, worse than expected. However, when excluding certain items, sales increased by 0.4%, a positive sign for the economy. This news comes amid concerns over tariffs and geopolitical tensions.
Source: https://www.cnbc.com/2025/06/17/retail-sales-may-2025-.html