Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation.
Sales rose just 0.1% on the month, one-tenth of a percentage point below the Dow Jones estimate, according to a Commerce Department’s report Tuesday that is adjusted for seasonality but not inflation.
However, the result was slightly better than the downwardly revised 0.2% decline In April.
This is breaking news.
Please check back for updates.
