US Retail Sales Surge 0.9% in May, Signaling Resilient Consumer Demand

US retail sales rose 0.9% mom to USD 763.7B in May, comfortably exceeding expectations of 0.5% mom and accelerating from the previous month’s 0.4% mom. The gain suggests that consumer spending remained resilient despite elevated inflation, high borrowing costs and growing uncertainty over the economic outlook. Excluding automobiles, retail sales increased 0.8% mom to USD […]

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