U.S. Retail Sales Better than Market Expectations in May

The global economy is slowly picking up, and data from the U.S. market, which leads global economic data, showed that retail sales rose 0.3% in May from a year earlier, driven mainly by growth in auto and parts sales, which were not adjusted for inflation. The market is widely expected to see a decline in retail sales in the month. Market retail sales rose instead of falling, plus the U.S. and China's foreign ministers met in June, whether the global economy will be driven to rebound.

Specifically, automotive and parts sales rose 1.4%; construction materials sales rose 2.2%; furniture and home furnishings sales rose 0.4%; restaurant sales rose 0.4%; health and personal care products and apparel sales were flat; gas station sales fell 2.6%.

U.S. media analysis that May retail sales better than expected, showing that consumers are still spending, the U.S. economy is still resilient. Some experts pointed out that the impact of high interest rates, tightening credit, labor market, etc., consumers are expected to spend more cautiously in the future, and personal consumption expenditure will accelerate in the second half of this year to slow down.

On the 13th , the U.S. Department of Labor released data showing that the U.S. Consumer Price Index (CPI) rose 4.0% year-over-year in May, which is the smallest year-over-year increase in U.S. CPI data since March 2021.

On the 14th, the U.S. Federal Reserve Board announced that the target range for the federal funds rate was left unchanged at 5% to 5.25%. This is a pause in the Fed's decision to raise interest rates after ten consecutive rate hikes since the beginning of last year.

The U.S. market is still the benchmark of the global economy, the last six months, the U.S. household goods procurement gradually return to normal, especially home storage, kitchen storage, table and hotel supplies these product categories, importers and Amazon merchants orders can be maintained, hope that through the slow recovery of the U.S. market, leading the European market gradually out of the gloom.