Research Brief: Retail Sales – May 2025
Stretch of resiliency may be waning. While core retail sales rose 5.4 percent year-over-year in April, spending was unchanged on a monthly basis after adjusting for core CPI inflation — an indication that a pullback in consumer spending is materializing. Even so, several key retail categories registered encouraging gains during the month, including restaurants and bars. These increases, however, were offset by…