US retail sales declined

Contrary to the modest growth expectations of the analysts, US retail retail sales declined significantly in May.

On Wednesday, the US Department of Commerce reported that the seasonally adjusted retail sales declined by 0.3 percent in May, compared to the 0.4 percent increase of April. In a monthy comparision this is the biggest downturn since January 2016. Analysts estimated a 0.1 percent increase in retail sales in May. (MTI)