Amid record low consumer sentiment, crashing asset markets, and tumbling savings rates, it is no surprise that May retail sales were a disappointment but the 0.3% plunge was remarkable relative to a 0.1% expected rise and downwardly revised 0.7% MoM rise in April.
That is the first negative print since Dec 2021.
Source: Bloomberg
Continue reading “US Retail Sales Unexpectedly Tumble In May”
