U.S. retail sales dropped more than expected in May, weighed down by a decline in motor vehicle purchases as a rush to beat potential tariff-related price hikes ebbed, but consumer spending remains supported by solid wage growth for now.

The decrease in retail spending was driven by a steep decline in car sales, just two months after consumers rushed to make car purchases before President Donald Trump’s tariffs were scheduled to go into effect.

US retail sales fell by the most since the start of the year in May, suggesting new tariffs deterred consumers from spending, especially on cars.

Consumer spending likely dropped last month, economists forecast, weighed down by a pullback in car purchases. Retail sales are seen dropping 0.6% from April, economists polled by The Wall Street Journal project.

As Walgreens exits Wall Street after 98 years, its new owners face a daunting turnaround. Will a renewed focus on its pharmacies and more financial discipline be enough?

ASOS has debuted in physical retail in the United States with a pop-up store in SoHo and plans for a Hamptons pop-up on the long weekend.