May retail sales drop more than expected
CBS America · 17 days ago
CBS America
17 days ago
U.S. retail sales dropped 0.9% in May, more than the 0.6% many economists forecast. The steep decline follows a 0.1% decrease in April amid the uncertainty about the economy.
BreakdownGenerated by LeadStory AI
- US retail sales dropped by 0.9% in May, exceeding expectations of a 0.6% decline. 2s
- The decrease follows a 0.1% drop in April and is mainly due to lower auto sales. 13s
- Excluding auto sales, retail sales were down 0.3%, still below expectations. 42s
- Other economic indicators, including consumer sentiment and wage growth, remain steady. 1m 5s
- The Federal Reserve is expected to keep interest rates unchanged for now, with uncertainty about future rate cuts due to economic and geopolitical factors. 1m 41s