Retail Sales See Unexpected Drop

The latest retail numbers are a rough sign for the economy. Retail sales dropped 0.3% in the month of May, according to the Commerce Department.

The drop came as a surprise to forecasters, who were predicting a 0.2% gain in May. It’s yet another sign that inflation is forcing Americans to spend less on non-essential items.

Breaking: US Retail Sales fall by 0.3% MoM in May vs. 0.2% expected gain By @FXstreetNews https://t.co/Tqb7ReDJAr #Breaking #UnitedStates #RetailSales #Macroeconomics

— FXStreet News (@FXStreetNews) June 15, 2022