US May Retail Sales Rise 0.9%, Beating Forecasts
Summary
- The Commerce Department said US retail sales in May rose 0.9% from a month earlier, exceeding economists’ forecast of 0.5%.
- May retail sales rose 6.88% from a year earlier, while April’s figure was revised to a 0.4% gain from a previously reported 0.5% increase.
- Wall Street has worried that uncertainty over tariff policy under a second Trump administration and recession fears could weaken US consumer sentiment.
Forecast Trend Report by Period
US retail sales rose 0.9% in May from a month earlier, exceeding market expectations.
The Commerce Department said June 17 that retail sales increased 0.9% in May from April. That was 0.4 percentage point above economists’ forecast for a 0.5% gain.
From a year earlier, retail sales climbed 6.88%. April’s figure was revised to a 0.4% increase from a previously reported 0.5% rise.
The monthly US retail sales report is a preliminary indicator that mainly tracks goods sales within overall consumer spending. It is widely seen as a gauge of changes in consumption, a key pillar of the US economy.
Wall Street has worried that uncertainty over tariff policy under a second Trump administration and fears of a recession could sour consumer sentiment and weigh on household spending.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul