Advance Monthly Sales for Retail and Food Services, May Report.
Advance estimates of U.S. retail and food services sales for May 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $703.1 billion, up 0.1 percent (±0.4 percent)* from the previous month, and up 2.3 percent (±0.5 percent) above May 2023. Total sales for the March 2024 through May 2024 period were up 2.9 percent (±0.5 percent) from the same period a year ago. The March 2024 to April 2024 percent change was revised from virtually unchanged (±0.4 percent)* to down 0.2 percent (±0.2 percent)*.
Wow... even with the typical downward revisions of previous months... the number barely moves upward.
For sake of comparison, the current inflation adjusted retail sales is the lowest since February, 2021.
The biggest losers on year to year and monthly are home furnishings, building material and garden supplies.
Mail order stores continue to gain, along with miscellaneous stores.
It was not a great report, but not a disaster. More in the lines of stagnant, imho.
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