U.S. Retail Slump Deepens in May: Gas Stations Lead Decline

U.S. Retail Slump Extends Into May

High interest rates and inflation have continued to affect U.S. consumers in May, causing retail sales to increase less than expected. For the month, advance estimates showed a 0.1 percent gain in retail sales, which is lower than the 0.3 percent economists had predicted, but higher than April's revised drop of 0.2 percent.