U.S. retail sales for May fell short of expectations, concerning economists, as it could signal a slowdown in economic growth.
TheU.S. Census Bureau reported that sales ticked up 0.1% from April to May, missing expectations of a 0.2% month-on-month increase.
May sales, which totaled $703.1 billion, were up 2.3% from a year ago, while sales for the March 2024 to May 2024 period gained 2.9% from the same period a year earlier, the agency reported.
Nonstore retailers were up 6.8% from last year, while food services and drinking places were up 3.8 % from May 2023.
The market reacted calmly to the retail sales miss, as...
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