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The Economic Times

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Hi(gh) Gasoline! US retail sales in May rise on auto power

American shoppers spent more in May than anticipated. This boost came from tax refunds and a stock market rise. However, this spending has reduced savings. Higher gas prices also contributed to the sales jump. Experts predict a slowdown as the impact of tax refunds fades. The Federal Reserve is expected to hold interest rates steady.

18 Jun 2026 9:17 am