Editor's PiCK
U.S. May Retail Sales Down 0.9% MoM…Below Expectations
Son Min
Summary
- U.S. May retail sales decreased by 0.9% compared to the previous month, falling short of the market expectation of a 0.5% decrease.
- Core retail sales also dropped by 0.3% month-on-month, below the expectation of a 0.2% increase.
- The decline in retail sales is analyzed to indicate that consumer confidence is being dampened by high interest rates, high prices, and inflation.
U.S. retail sales for May decreased by 0.9% month-on-month.
According to data released by the U.S. Department of Commerce on the 17th (local time), U.S. retail sales for May decreased by 0.9% compared to the previous month. Wall Street experts had expected a 0.5% decline.
Core retail sales, excluding food and energy, dropped 0.3% month-on-month, also missing the market expectation of a 0.2% increase.
The monthly retail sales index is a statistic that aggregates merchandise sales performance, serving as an indicator of changes in consumer behavior and sentiment. A decline in retail sales suggests that consumers' sentiment is freezing due to high interest rates, high prices, and worsening inflation.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
![Did it crash because of Trump?…The 'real reason' Bitcoin collapsed [Hankyung Koala]](https://media.bloomingbit.io/PROD/news/d8b4373a-6d9d-4fb9-8249-c3c80bbf2388.webp?w=250)
!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)