fxs_header_sponsor_anchor

News

US: Retail Sales rise 0.3% in May vs. -0.1% expected

  • US Retail Sales rise by 0.3% in May; ex auto up 0.4%. 
  • Report surpasses expectations, offset by Jobless Claims data. 
  • US Dollar drops modestly after data, DXY slides under 103.00.

The data published by the US Census Bureau revealed on Thursday that Retail Sales in the United States rose 0.3% in May to $686.1 billion. This reading followed the 0.4% increase recorded in April. The market consensus was for a 0.1% decline. In the same period, Retail Sales ex-Autos rose 0.1% above the 0% expected.

Key takeaways: 

"Advance estimates of U.S. retail and food services sales for May 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $686.6 billion, up 0.3 percent (±0.5 percent)* from the previous month, and up 1.6 percent (±0.7 percent) above May 2022."

"Total sales for the March 2023 through May 2023 period were up 1.7 percent (±0.4 percent) from the same period a year ago. The March 2023 to April 2023 percent change was unrevised at 0.4 percent (±0.2 percent)."

"Retail trade sales were up 0.3 percent (±0.5 percent)* from April 2023, and up 0.7 percent (±0.5 percent) above last year. Nonstore retailers were up 6.5 percent (±1.4 percent) from last year, while food services and drinking places were up 8.0 percent (±2.3 percent) from May 2022." 

Market reaction: 

The US Dollar pulled back after the release of US economic reports that also included Jobless Claims, NY Empire, and the Philly Fed. The DXY printed fresh daily lows under 102.90. 
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.