U.S. Retail Sales Drop 1.3% In May After 2 Months Of Gains

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U.S. Retail Sales Drop 1.3% In May After 2 Months Of Gains
There were declines in furniture, electronics and cars, while restaurants and bars ended the month with gains.
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Major stock indexes went down slightly after retail sales fell 1.3% last month, which is worse than what some analysts expected.

There were declines in furniture, electronics and cars, while restaurants and bars ended the month of May with gains.

This may suggest a preference for experiences over goods as Americans are enjoying newfound freedoms after a year of lockdowns from the pandemic, though it is not universal.

For example, clothing sales shot up 3%.