US retail sales beat estimates in May, underscores consumer resilience

15 June 2023

 

Summary: US retail sales up 0.3% in May, more than expected; annual growth rate increases to 1.6%; ANZ: underscores US consumer resilience; Treasury bond yields rise; rate-cut expectations firm; rises in ten of thirteen retail categories; vehicles retailers segment largest single influence on month’s result. US retail sales had been trending up since late 2015 but, commencing in late 2018, a series of weak or negative monthly results led to...

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