Skip to main content

U.S. Consumers Boost Spending Despite Trade Tensions

Submitted by jhartgen@abi.org on

American shoppers ramped up their spending in May, providing critical fuel for the U.S. economy’s continued expansion despite trade tensions and slowing global growth, the Wall Street Journal reported. Retail sales, a measure of purchases at stores, restaurants and online, rose a seasonally adjusted 0.5 percent in May from a month earlier, the Commerce Department said Friday. Overall sales also rose 0.3 percent in April, an improvement over the department’s previous estimate of a 0.2 percent decline and an indication that household spending was strong in the spring. The May spending pickup was broad-based, with increases seen at electronics stores, restaurants, sporting-goods shops, gasoline stations and online.

Article Tags