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

The transcript discusses the economic performance last month, highlighting a 1.3% decline, which was worse than expected. It notes declines in sectors like furniture, electronics, and cars, while restaurants and bars saw gains, indicating a shift towards experiences over goods as people enjoy post-lockdown freedoms. However, this trend is not universal, as clothing sales increased by 3%.

What was the percentage decline in consumer spending last month?

• 3.5%

• 2.0%

• 1.3%

• 0.5%

Which sectors experienced a decline in spending?

• Furniture, electronics, and cars

• Restaurants and bars

• Clothing and accessories

• Travel and tourism

Which sectors saw gains in spending?

• Cars and clothing

• Restaurants and bars

• Travel and tourism

• Furniture and electronics

What does the increase in restaurant and bar spending suggest about consumer behavior?

• Preference for goods over experiences

• Preference for experiences over goods

• Decline in overall spending

• Increase in savings

By what percentage did clothing sales increase?

• 4%

• 1%

• 2%

• 3%