US retail sales fell by the most in two years in May, according to official data, following an earlier stockpiling burst as uncertainty over tariffs continues to distort consumer spending behaviour.
Sales of $715.4bn were down 0.9 per cent from April, figures released by the US Census Bureau on Tuesday showed. The number, which was below economists’ expectations, marked the biggest monthly fall since March 2023. April’s move was revised lower to a 0.1 per cent decline.
The drop-off follows a spending surge in March when Americans bulked up on purchases — particularly of cars and auto parts — amid anxiety over the impact of President Donald Trump’s looming tariffs on foreign imports.
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