Retail sales up 0.1% in May from Apr as still high inflation curbs spending
Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending. Retail sales rose 0.1 per cent in May, below the pace that economists projected, according to the Commerce Department. And April sales were revised downward a 0.2 per cent decline, from unchanged. Sales rose 0.6 per cent in March and 0.9 per cent in February. That comes after sales fell 1.1 per cent in January, dragged down in part by inclement weather. Excluding gas prices and auto sales, retail sales rose the same amount. Читать дальше...