US retail sales fell by the most in two years in May following a burst in stockpiling during previous months as uncertainty over tariffs continues to distort consumer spending behaviour. Sales of $715.4bn were down 0.9 per cent from April, figures released by the US Census Bureau on Tuesday showed. That was the biggest monthly drop since May 2023.

Irish goods exports declined sharply in April as President Trump's tariffs continued to have a significant impact on Ireland's trade. Businesses had rushed to sell goods to the US in the first three months of the year to avoid the impact of the tariffs which started to take effect in April.

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