June Retail Sales Slow Amid Tariff Concerns

Retail sales slowed in June due to continued consumer anxiety about the impact of government policies on the economy, according to the CNBC/NRF Retail Monitor released by the National Retail Federation (NRF).

In the building and garden supplies sector, seasonally adjusted month-over-month sales were down 0.76% in June, with a year-over-year decrease of 5.33% last month. Total retail sales across all sectors, excluding automobiles and gasoline, were down 0.33% seasonally adjusted month over month.

“June’s numbers indicate that prolonged uncertainty surrounding the economy, tariffs and trade policy could be pushing consumers to adopt a ‘wait-and-see’ approach with their household budgets,” says Matthew Shay, NRF president and CEO. “This was the first monthly decline since February, and spending was down across almost all sectors. Economic fundamentals haven’t been disrupted yet and shoppers still have the ability to spend on priorities, but the economy is gradually slowing and there has been an impact on the psyche of consumers. While passage of the ‘Big Beautiful Bill’ is clearly supportive of economic growth, unresolved and restrictive trade policies remain a significant headwind.”