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Hi(gh) Gasoline! US retail sales in May rise on auto power
American shoppers spent more in May than anticipated. This boost came from tax refunds and a stock market rise. However, this spending has reduced savings. Higher gas prices also contributed to the sales jump. Experts predict a slowdown as the impact of tax refunds fades. The Federal Reserve is expected to hold interest rates steady.
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apnews.com
Retail sales up a strong 0.9% in May, underscoring the resilience of the US consumer
Shoppers stepped up their spending in May, surpassing economists’ expectations, as temperatures warmed and gasoline prices cooled.
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abcnews.com
Retail sales up 0.9% in May as the weather improved and gasoline prices cooled
Shoppers increased their spending in May as temperatures warmed and gasoline prices cooled
