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Americans cut back sharply on their spending last month amid tariffs (www.cnn.com)

submitted 1 month ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Americans are feeling a hangover from their tariff-fueled buying frenzy early in the spring.

Retail sales fell by 0.9% in May from the prior month, the Commerce Department said Tuesday, down sharply from April’s downwardly revised 0.1% decline. That was the steepest monthly decline since January and worse than the 0.7% decrease economists projected in a poll by data firm FactSet.

The figures are adjusted for seasonal swings but not inflation.

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[–] Saleh@feddit.org 11 points 1 month ago (1 children)

"Cut back sharply" -> 0.9%

Can we stop this nonsense already? What dramatic headline comes next? "Americans stopped going out amid devastating cold" when it becomes September?

Also if it is the "steepest decline since January", January is just half a year ago.

[–] Laser@feddit.org 4 points 1 month ago (1 children)

I'd always expect a decline after December because of Christmas

[–] Saleh@feddit.org 6 points 1 month ago

According to the article the numbers are season adjusted.