US retail sales increased in May

The US Department of Commerce released May retail sales data.

Accordingly, retail sales increased by 0.3 percent compared to the previous month in May, reaching $686.6 billion. Market expectations were for retail sales to decline by 0.2 percent month-on-month in this period. Retail sales also increased 0.4 percent in April.

In the increase in retail sales last month; The increase in sales in stores where building materials and garden equipment are sold, and in stores where motor vehicles and parts are sold came to the fore.

In the said period, sales in places where food and beverage services are provided, general goods stores, furniture stores, food and beverage stores, sporting goods, hobby goods and book stores, and electronics stores also increased. Sales at fuel stations, on the other hand, decreased in this period.

Analysts said the data showed that consumer spending remains resilient despite high inflation and high interest rates.

Industrial production forecasts under

The industrial production data announced today in the USA, on the other hand, decreased by 0.2 percent in May, while an increase was expected. Industrial production rose 0.5 percent in April. Capacity utilization rate decreased from 79.8 percent to 79.6 percent.

Manufacturing industry production, on the other hand, increased by 0.1 percent on a monthly basis, while a decrease was expected.