U.S. Retail Sales in May Outpace Predictions, Show Resilience | June 15, 2023

The U.S. Retail Sales growth for May exceeded expectations by advancing 0.3% month-over-month, compared to the projected decline of 0.2% and previous growth of 0.4%. Retail sales excluding auto sales matched the estimated growth of 0.1% for May, albeit lower than the previous month's increase of 0.4%. When excluding both auto and gas sales, retail sales in May rose by 0.4%, doubling the predicted 0.2% growth and falling slightly short of the prior month's rise of 0.6%. #MarketUpdate