ONLN - U.S. Retail Sales Preview - May 2024

2024-06-18 05:30:00 ET

Summary

• LSEG IFR Markets forecasts a challenging development for Q2 U.S. retail sales, with overall and ex-autos sales anticipated to increase by only 0.2% in May 2024.
• Unit auto sales experienced modest growth for the month, reaching an annualized rate of 15.90 million, marking the fastest pace this year.
• Despite the recent Memorial Day discounts in May, the year-to-date average is now at its lowest point in over five years.

By Jharonne Martis

LSEG IFR Markets forecasts a challenging development for Q2 U.S. retail sales, with overall and ex-autos sales anticipated to increase by only 0.2% in May 2024. The control group is expected to fare slightly better with a 0.4% rise, though this still reflects a sluggish start to the quarter following April's 0.3% decline....

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