US May Retail Sales Down 1.3% MoM... Larger Decline Than Market Expectations

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Donghyun Choi] U.S. retail sales in May declined more than market expectations.

According to the U.S. Department of Commerce on the 15th (local time), May retail sales fell 1.3% compared to the previous month. This decrease was larger than the market forecast compiled by Bloomberg, which expected a 0.8% decline month-over-month.

However, retail sales for April, previously reported as flat, were revised upward to a 0.9% increase.