Retail spending in May was weaker than anticipated, with sales rising only 0.1%, slightly below the expected 0.2% increase. This follows a revised 0.2% decline in April. Year-over-year, sales increased by 2.3%. The stock market remained stable, and Treasury yields declined post-report. With consumer spending critical to economic activity, this data raised concerns about a potential economic slowdown and future Federal Reserve monetary policy. The inflation rate in April was above the Fed's target at 2%.
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00:00It's Benzinga and here's what's on the block.
00:03Retail spending in May was weaker than anticipated with sales rising only 0.1% slightly below
00:08the expected 0.2% increase.
00:11This follows a revised 0.2% decline in April.
00:14Year-over-year sales increased by 2.3%.
00:17The stock market remained stable and treasury yields declined post-report.
00:21With consumer spending critical to economic activity, this data raised concerns about
00:25a potential economic slowdown and future Federal Reserve monetary policy.
00:30The inflation rate in April was above the Fed's target at 2%.
00:33For all things money, visit Benzinga.com.