US Retail Sales Fall Sharply in May
U.S. retail sales dropped more than expected in May, weighed down by a decline in motor vehicle purchases as a rush to beat potential tariffs-related price hikes ebbed, but consumer spending remained supported by solid wage growth.
Retail sales fell 0.9% last month after a downwardly revised 0.1% dip in April, the Commerce Department's Census Bureau said on Tuesday.
Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, decreasing 0.7% after a previously reported 0.1% gain in April...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.