Retail Spending in May Falls Short of Expectations, Raising Concerns of Economic Slowdown from com base rate notu Watch Video

⏲ Duration: 0:37
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✓ Published: 19-Jun-2024

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Retail spending in May was weaker than anticipated, with sales rising only 0.1%, slightly below the expected 0.2% increase. This follows a revised 0.2% decline in April. Year-over-year, sales increased by 2.3%. The stock market remained stable, and Treasury yields declined post-report. With consumer spending critical to economic activity, this data raised concerns about a potential economic slowdown and future Federal Reserve monetary policy. The inflation rate in April was above the Fed's target at 2%.