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Retail Sales Slightly Up

iHub News
Latest News
June 18 2024 9:07AM

Retail sales in the U.S. inched slightly higher in the month of May, according to a report released by the Commerce Department on Tuesday.

The Commerce Department said retail sales crept up by 0.1 percent in May after dipping by a revised 0.2 percent in April.

Economists had expected retail sales to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.

Excluding an increase in sales by motor vehicle and parts dealers, retail sales edged down by 0.1 percent in May after slipping by a revised 0.1 percent in April.

Economists had expected ex-auto sales to climb by 0.2 percent, matching the increase originally reported for the previous month.

At 9:15 am ET, the Federal Reserve is scheduled to release its report on industrial production in the month of May. Industrial production is expected to rise by 0.3 percent in May after coming in unchanged in April.

The Commerce Department is due to release its report on business inventories in the month of April at 10 am ET. Business inventories are expected to increase by 0.3 percent in April after edging down by 0.1 percent in March.

Also at 10 am ET, Richmond Federal Reserve President Thomas Barkin is scheduled to participate in a MNI Webcast discussion.

Boston Federal Reserve President Susan Collins is due to speak before the Lawrence Partnership Annual Meeting & 10th Year Anniversary at 11:40 am ET.

At 1 pm ET, the Treasury Department is scheduled to announce the results of this month’s auction of $13 billion worth of twenty-year bonds.

Dallas Federal Reserve President Lorie Logan is also due to participate in a moderated question-and-answer session before the Headliners Club Speaker Series at 1 pm ET.

Also at 1 pm ET, St. Louis Federal Reserve President Alberto Musalem is scheduled to speak at a CFA Society St. Louis luncheon.

Chicago Federal Reserve President Austan Goolsbee is due to participate in an “Economic and Monetary Policy” panel before the 2024 Marshall Forum at 2 pm ET.