Geopolitics
Consumers cut spending on cars and other goods when tariffs kicked in. What will they do next?
Consumer spending falls in May for first time in four months

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Consumer spending falls in May for first time in four months
The figures are for April which is also when a hike in employer National Insurance contributions kicked in.

After rushing to buy new cars and other imported goods in March before tariffs took effect and raised prices, Americans reduced their spending at retail stores…
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