U.S. Retail Slump Worsens in May, Gas Stations Hit Hard

U.S. Retail Slump Extends Into May

High interest rates and inflation continue to burden U.S. consumers as retail sales fell short of economist predictions in May. For the month, advance estimates showed a 0.1 percent gain in retail sales, which was lower than the anticipated 0.3 percent but still an improvement over April's drop of 0.2 percent.