U.S. Retail Sales Fall More Than Expected In May
(RTTNews) - The Commerce Department released a report on Tuesday showing U.S. retail sales decreased by more than expected in the month of May.
The report said retail sales slid by 0.9 percent in May after edging down by a revised 0.1 percent in April.
Economists had expected retail sales to decline by 0.6 percent compared to the 0.1 percent uptick originally reported for the previous month.
Excluding a steep drop in sales by motor vehicle and parts dealers, retail sales fell by 0.3 percent in May after coming in unchanged in April. Ex-auto sales were expected to inch up by 0.1 percent.
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