Americans are finally pulling back on spending

Posted on AllSides June 15th, 2022
From The Center
REUTERS/STEPHEN LAM
ANALYSIS

Americans are starting to pull back on spending in the face of rising gas prices and interest rates. US retail sales dropped slightly in May from the previous month—by 0.3%—and were below economists’ expectations of a small increase.

Most of the drop can be attributed to flagging car sales, which fell 3.5%. Excluding cars, overall retail sales rose. But Americans also spent less on furniture, electronics, online shopping, and personal care.

Read full story
Some content from this outlet may be limited or behind a paywall.

Quartz

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
106676/84293
See full bias rating for Quartz
Learn about media bias
https://qz.com/2178168/americans-are-pulling-back-on-spending/

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right