US retail sales beat expectations in May

U.S. retail sales rose more than expected in May, indicating resilient consumer spending in the near term. However, the article warns that the boost from larger tax refunds is fading and higher prices may weigh on demand ahead. The read-through is modestly supportive for near-term activity but points to a likely slowdown.

Analysis

U.S. retail sales rose more than expected in May, indicating resilient consumer spending in the near term. However, the article warns that the boost from larger tax refunds is fading and higher prices may weigh on demand ahead. The read-through is modestly supportive for near-term activity but points to a likely slowdown.