The Census Bureau's Advance Retail Sales Report for May revealed headline sales rose 0.1% in May. The latest reading was below the expected 0.3% monthly rise in consumer spending.
Total earnings from 95.4% of the retail sector's market capitalization are up 31.9% on 5.6% higher revenues, with 69.2% beating EPS estimates and 57.7% beating revenue estimates. The results had a mixed impact on retail ETFs.
Economic indicators provide insight into the overall health and performance of an economy. They are essential tools for policymakers, advisors, investors, and businesses because they allow them to make informed decisions regarding business strategies and financial markets.