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. Sales at retail stores and restaurants dropped 0.

The engine of this economy — consumers — slowed in May. Consumer spending is responsible for more than two-thirds of gross domestic product in the U.S.

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.