PARIS (Reuters) – Retail sales in the United States rebounded in May by 0.1% month-on-month, but this rebound was weaker than expected, data released by the Commerce Department on Wednesday showed .
Economists polled by Reuters on average forecast an increase of 0.3% in May after a decline of 0.2% in April (revised figure of +0.0%).
Excluding automobiles, fuels, construction materials and food services, sales rose 0.4%, compared to a decline of 0.5% (revised from -0.3%) in April. The consensus was for an increase of 0.1%.
This category is closest to the component of household consumption expenditure used in the calculation of gross domestic product (GDP).
On Wall Street, after the publication of this indicator, futures contracts on the main indices suggest an opening down 0.02% for the Dow Jones, but an increase of 0.03% for the Standard & Poor’s 500 and 0.18% for the Nasdaq. The Dow and S&P were trading in the red before the retail sales data was released.
(Written by Claude Chendjou, edited by Blandine Hénault)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.