Reported 8 months ago
U.S. retail sales increased by only 0.1% in May, falling short of expectations and indicating a slowdown in consumer spending, fueling market expectations of a Federal Reserve interest rate cut in the coming months. The report revealed a decline in gasoline-station sales and a missed forecast for the closely tracked control group number, affecting GDP calculations. The Federal Reserve is monitoring inflation trends, and market indicators suggest increasing odds of a rate cut in September following easing inflation pressures recorded in May.
Source: YAHOO