2024-06-18 12:03:10 ET
Summary
- Retail sales in the U.S. grew by +0.09% in May 2024, lower than the expected +0.30%.
- Data for prior months were revised downward significantly.
- The report generally confirms that the US economy has been slowing substantially during April and May.
The Advance Report on Monthly Sales for Retail & Food Services was published on June 18, 2024, at 8:30 AM. The report contains information about changes in the prices (inflation/deflation) of a wide array of goods and services purchased by consumers in the U.S. during the month of May 2024.
According to the Bureau of Census, total nominal retail sales grew by +0.09% on a Month-on-Month (MoM) basis – 0.21% less than the median forecasted growth of +0.30%....
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Retail Sales May 2024: The Economy Is Slowing