The dip surprised economists who had predicted a 0.2% increase following April’s 0.6% gain, and the unexpected drop has caused some analysts to call into question the strength of the U.S. economic recovery. Within the report, only five of 13 sub-sectors posted losses, led by a 9.3% plunge at building-material retailers, and employers see higher savings and lower spending linked to the labor market, which is failing to post impressive growth.
The outlook is still moderately positive.” Notably, sales excluding cars, gas, and building supplies - the figures employed to calculate the gross domestic product - actually increased 0.1%, after a 0.2% drop in April.
The outlook is still moderately positive.” Notably, sales excluding cars, gas, and building supplies - the figures employed to calculate the gross domestic product - actually increased 0.1%, after a 0.2% drop in April.
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