US: Retail Sales rise 0.3% in May vs. -0.1% expected

The data published by the US Census Bureau revealed on Thursday that Retail Sales in the United States rose 0.3% in May to $686.1 billion. This reading followed the 0.4% increase recorded in April. The market consensus was for a 0.1% decline. 

In the same period, Retail Sales ex-Autos rose 0.1% above the 0% expected.

“Total sales for the March 2023 through May 2023 period were up 1.7 percent (±0.4 percent) from the same period a year ago. The March 2023 to April 2023 percent change was unrevised at 0.4 percent (±0.2 percent).”

“Retail trade sales were up 0.3 percent (±0.5 percent) from April 2023, and up 0.7 percent (±0.5 percent) above last year. Nonstore retailers were up 6.5 percent (±1.4 percent) from last year, while food services and drinking places were up 8.0 percent (±2.3 percent) from May 2022”. 

Market reaction: 

The US Dollar pulled back after the release of US economic reports that also included Jobless Claims and the Philly Fed. The DXY printed fresh daily lows under 102.90.