US retail sales fell in May; UK jobless rate drops and payrolls rise – business live

Rolling coverage of the latest economic and financial news

2.24pm BST

US producers kept hiking their prices in May, in another sign that inflationary pressures are building.

Producer prices rose by 6.6% per year in May, the largest increase since the Bureau of Labor Statistics began calculating 12-month data in November 2010.

“US producer prices jumped much more than expected to 6.6% in May; this could put a bit of pressure on the Fed tomorrow in how they word their comments on inflation and the outlook for rates.

Meanwhile, retail sales missed expectations, showing a big drop over April, suggesting that the consumer recovery may not be as strong as thought, but this is only one data point in a strong recovery.”

2.10pm BST

Highlights (prior month):
Clothing +3% (-2%)
Eating, drinking +1.8% (+4.5%)
Health/personal care +1.8% (+1%)
Sporting goods -0.8% (-2.3%)
E-commerce -0.8% (-0.3%)
Furniture -2.1% (-0.7%)
Electronics -3.4% (+1.5%)
Motor vehicles/parts -3.7% (+4.3%)
Building materials -5.9% (-2.3%)

Continue reading…


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.