Decline in US Retail Sales Turns Markets Negative

Yesterday’s gains in North American stocks could be in jeopardy in light of the 1.2 percent decline is US Retail Sales. This is the largest single-month decline in eight months casting doubt on the strength of the economic recovery.

According to the Commerce Department, with the exception of the auto industry, most sectors experienced a pullback in May.

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.