U.S. retail sales showed minimal growth in May, rising by only 3% according to some reports, while others noted a 4.5% increase. This modest rise highlights the impact of inflation and higher interest rates on consumer behavior, with many households prioritizing essentials and cutting back on discretionary spending. The restrained growth in retail sales has led economists to speculate that the Federal Reserve might consider cutting interest rates in September. Despite the slowdown, some analysts believe that weaker spending could assist the Federal Reserve in managing inflation and avoiding a recession. Nominal retail sales grew by 2.3% year/year in May.
Consumers were still cautious in May. That might be a good thing. Weaker spending may be helping the Federal Reserve with this yearโs balancing act of cooling inflation and staving off a recession. #consumertrends https://t.co/yuB1tzsdvn
Canadian consumer spending dropped in May -- RBC https://t.co/PFsNjAfSzU
REUTERS: "๐บ๐ธ US retail sales barely rose in May, bolstering economists' expectations that the Federal Reserve could start cutting interest rates in September." https://t.co/8kGHjqJa3b
Nominal retail sales grew by 2.3% year/year in May ... growth has been softening but remains healthy for now https://t.co/HyeH9zaRqG
๐บ๐ธ May retail sales up 4.5% as consumers cut back on services https://t.co/JlMzRtZiYZ
#Retailers report only 3% growth in #sales in May https://t.co/6YHhnMYc0A
๐บ๐ธ Retail sales show steady performance in May https://t.co/xE7EQEFale
BofA: Tracking the U.S. Consumer Spending up, but Confidence, Employment and DPI-CPI down https://t.co/h8fyewnerz
Inflation and high interest rates constrain U.S. retail sales in May https://t.co/NHYOCZo81g
US retail sales barely rose in May. Inflation and higher interest rates are testing the resilience of consumers, with households generally prioritizing essentials and cutting back on discretionary spending https://t.co/jA1HJfIydS https://t.co/pHe8aKde04
US retail sales barely rose in May. Inflation and higher interest rates are testing the resilience of consumers, with households generally prioritizing essentials and cutting back on discretionary spending. Read more here: https://t.co/akUL2oaXzs https://t.co/G8Sl4fw9Cx
May retail sales up 4.5% as consumers cut back on services | #retail #ecommerce #economy https://t.co/KPgapJV7Nv
The unstoppable American consumer slowed in May as retail sales barely budged. https://t.co/aiulbwyXG8
Retail sales rose less than expected in May https://t.co/yGYhGk5OZo