The US economy slowed down in April as consumers reduced their spending, while goods imports plummeted by a record due to higher tariffs. Inflation-adjusted personal spending rose 0.1% from the previous month’s 0.7%, according to Bureau of Economic Analysis data. This slowdown was accompanied by an almost 20% decline in imports, which significantly narrowed the US merchandise-trade deficit in April.
Source: https://www.bloomberg.com/news/articles/2025-05-30/us-consumer-spending-growth-slows-while-inflation-remains-soft