Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
A Depressing Conjuncture That Will Change No Minds
In what may well be further evidence to support the view that the US economy is already cooling, retail sales for May missed estimates by a fairly large margin, data out Tuesday showed.
Sales fell 1.3% last month (figure below), considerably worse than the 0.8% consensus expected. The range was -3.5% to 1% from more than six-dozen economists.
The fresh read on consumption appeared to be a dubious encore to April's downside surprise, but an upward revision (from unchanged to a 0.9% gain) helped
