Retail sales pulled back in May

Retail sales, excluding gas, fell 0.7 percent in May from April. Many are predicting economic growth to slow as inflation cuts into consumers' ability to pay for goods. “We’re in a little bit of a watershed in terms of what’s going to happen to the economy,” said Craig Johnson, president of Customer Growth Partners. “The American consumer — she’s very resilient, but she’s not infinitely resilient.”