Retail sales in the United States saw a notable increase in May 2024, rising 0.9% month-over-month to reach $763.7 billion, according to FX Street. This growth outpaced market expectations, which had forecast a 0.5% increase, and improved on April’s 0.5% rise.
On a year-over-year basis, retail sales expanded by 6.9%, signaling sustained consumer demand despite ongoing economic uncertainties. The stronger-than-expected data suggests resilience in US consumer spending heading into the summer months.
For Japanese investors and market participants, these figures could influence USD/JPY movements and risk sentiment, as robust US retail sales often support the US dollar and impact global financial markets.