Retail sales fell sharply in May as consumers pulled back after a sharp increase in spending in March to get ahead of President Donald Trump's sweeping tariffs on nearly all imports.

U.S. retail sales dropped more than expected in May, weighed down by a decline in motor vehicle purchases as a rush to beat potential tariffs-related price hikes ebbed, but consumer spending remained supported by solid wage growth.

US retail sales fell in May, the biggest decline since March 2023, after consumers pulled back from a spate of previous stockpiling this year. Retail sales comprised $715.4 billion, a decrease of 0.9% in April, and well below what economists estimated.