U.S. Retail Sales Unexpectedly Dip 0.3% In May
(RTTNews) - Reflecting a sharp pullback in auto sales, the Commerce Department released a report on Wednesday showing an unexpected decrease in U.S. retail sales in the month of May.
The report showed retail sales fell by 0.3 percent in May after climbing by a downwardly revised 0.7 percent in April. Economists had expected retail sales to edge up by 0.2 percent compared to the 0.9 percent increase originally reported for the previous month.
Excluding the steep drop in sales by motor vehicles and parts dealers, retail sales rose by 0.5 percent in May following a 0.4 percent increase in April. Ex-auto sales were expected to advance by 0.8 percent.
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The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by far less than previously estimated in the month of October. The report said the University of Michigan's consumer sentiment index for October was upwardly revised to 48.0 from a preliminary reading of 46.3.
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U.S. Housing Starts Unexpectedly Plunge 5.2% September
A report released by the Commerce Department on Monday unexpectedly showed an extended nosedive in new residential construction in the U.S. in the month of September.
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U.S. Housing Market Index Drops To Fourteen-Year Low In October
A report released by the National Association of Home Builders on Monday showed a bigger-than-expected deterioration in U.S. homebuilder sentiment in the month of October. The report said the NAHB/Wells Fargo housing market index fell to 29 in October from 32 in September. Economists had expected the index to edge down to 31.
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