Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates
Despite the persistent challenges posed by high inflation and increasing borrowing costs, Americans demonstrated an uptick in their spending at retailers last month. According to the report released by the Commerce Department on Thursday, retail sales experienced a 0.3% increase from April to May, primarily driven by stronger sales in the automotive sector, including auto and parts dealers. Economists had initially anticipated a decline in … Continue reading Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates
