Big Disappointment In U.S. May Retail Sales
Retail sales fell 1.2% in May . The consensus was at 0.2%, April reading was a gain of 0.4%. Autos taken out, the figure was -1.1%; the consensus was at 0.1%; prior reading at 0.4%.
Big and clear disappointment and a confirmation of a major economic slowdown coming in the second half of the year.
Chart 1. U.S. Retail sales
Source: Bloomberg
