Retail sales in the United States saw a modest increase last month, falling short of economists' expectations. According to the Commerce Department's report, sales edged up by just 0.1% in May, following a slight decline of 0.2% in April. The figures, adjusted for seasonal variations but not inflation, highlighted a cautious approach by American consumers amidst ongoing challenges such as high inflation and elevated interest rates.
Notably, gas stations experienced the steepest decline in sales, dropping by 2.2% in May. Sales at furniture stores and shops selling building materials and garden equipment also saw decreases of 1.1% and 0.8%, respectively. In contrast, specialty stores offering sporting goods, books, and musical instruments recorded a notable increase of 2.8% last month.
