US retail sales dropped in May as Americans pulled back from pre-tariff stockpiling. Revenue slid 0.9% month-on-month (adjusted seasonally) to $715.4 billion, according to the US Census Bureau. This followed a 0.1% slip in April, when sales totaled $722 billion.
🛍️ Interestingly, data from the National Retail Federation (NRF) — which uses real-time purchase tracking instead of surveys — showed a slight 0.1% increase for May.
💬 “Consumers are seeing their way through the uncertainty with trade policies,” said NRF chief economist Jack Kleinhenz. “But I expect the inflation associated with tariffs to be felt later this year. Consumers remain very price sensitive, and those costs are likely to weigh heavily on budgets.”
📊 Compared to last May, sales were up 3.3%, a deceleration from the 5% growth seen in April.
🛒 Year-on-year highlights:
- 👗 Clothing & accessories (incl. jewelry): +3.2% YoY, +0.7% MoM
- 📚 Sporting goods, hobbies, music, bookstores: +8% YoY, +0.4% MoM
- 🪴 Building & garden supplies: -7% YoY
- 🪑 Furniture & home furnishings: -0.1% YoY