Americans cut back sharply on spending last month amid tariffs

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CNN posted an update

36 minutes ago

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, 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. #CNN #News

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