Negative
20Serious
Neutral
Optimistic
Positive
- Total News Sources
- 4
- Left
- 0
- Center
- 2
- Right
- 2
- Unrated
- 0
- Last Updated
- 78 days ago
- Bias Distribution
- 50% Center
U.S. retail sales grew by only 0.1% in May, below economists' expectations, reflecting the strain of high inflation and interest rates on consumer spending. The modest increase, along with a downward revision of April's sales to a 0.2% decline, suggests that households are prioritizing essentials over discretionary purchases. Lower gas prices contributed to the weaker sales figures, although excluding gas and auto sales, the increase was slightly better at 0.3%. Economists believe this tepid consumer activity heightens the likelihood of the Federal Reserve cutting interest rates later this year, with futures indicating a 67% probability of a rate cut by September. Despite the slower retail growth, some analysts see a potential 'soft landing' for the economy if the Fed adjusts its policies accordingly. Overall, the data indicates a cooling but not collapsing economic environment, allowing for cautious optimism about future consumer resilience.
- Total News Sources
- 4
- Left
- 0
- Center
- 2
- Right
- 2
- Unrated
- 0
- Last Updated
- 78 days ago
- Bias Distribution
- 50% Center
Open Story
Timeline
Analyze and predict the
development of events
Negative
20Serious
Neutral
Optimistic
Positive
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