Retail Sales rose 0.6% in May, higher than the forecast 0.4%. Low borrowing costs in the U.S. seem to be encouraging people to spend money.
Eight of thirteen major retail categories showed gains in May, led by the largest increase in auto dealership purchases in 6 months, according to Bloomberg.
U.S. Unemployment Claims
Last week, less Americans applied for unemployment benefits than economists predicted. The 354,000 forecast was preceded by a 334,000 actual reading. Last week’s claims show a 12k drop from the week prior.
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