Retail Sales Points to Downshift by US Consumers

The strong headline gain of May retail sales disguises the underlying pullback, which is the real signal. Retail sales rose 0.6% after a 0.1% rise in April. The consensus was for a 0.4% increase. The weakness is evident though on an underlying trend basis. The 3-month annualized pace for the h…

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Retail Sales Points to Downshift by US Consumers

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