Reported 8 months ago
US retail sales data for May showed slower growth than expected at 0.1%, falling short of the 0.3% predicted by economists. Additionally, the US Commerce Department revised April's retail data, revealing a 0.2% decline in sales for that month. The report indicates that high interest rates and inflation are impacting consumer spending, with certain sectors like food and furniture experiencing declines, while health and personal care stores show a 2.2% year-over-year increase. This data raises concerns about the strength of the US economy and consumer behavior, with markets assessing the potential impact on a future interest rate cut.
Source: YAHOO