Tuesday, 2 July 2024

Retail sales in America rose less than expected in May

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US retail sales rose less than expected in May, as lower gasoline prices weighed on station revenues.

The Statistics Office of the Ministry of Commerce said on Tuesday that retail sales rose 0.1% last month.

April data was revised downward to show a decline of 0.2% after previous data reported that sales did not record a change in April, according to Reuters.

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Economists had expected in a Reuters poll that retail sales, which are mostly goods and not adjusted for inflation, would rise 0.3% in May.

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