US retail sales surged past expectations in May, government data showed Wednesday, boosted by higher spending at gas stations as energy costs remained elevated amid fallout from the Middle East war. Sales were up 0.9 percent from April at $763.7 billion, the Department of Commerce said. This was a bigger...
Despite doubts over economy, Americans set for record holiday spending
Americans are expected to spend a record amount over the holiday season, despite lingering worries in the world’s biggest economy about stubborn inflation, tariffs and the knock-on effects of the government shutdown. “Consumers remain pretty concerned about inflation and, there’s no doubt, about where prices are going,” Mark Mathews, chief...