May retail sales climbed to $763.7 billion, exceeding expectations and signaling resilient consumer demand ahead of the FOMC decision.
US retail sales increased 0.9% month-over-month in May to $763.7 billion, surpassing the 0.5% consensus forecast. The gain followed a 0.5% rise in April and marked a 6.9% year-over-year increase, reflecting sustained consumer spending.
Retail trade sales rose 1.0% from April and 7.5% from the prior year. Nonstore retailers led growth with a 12.2% annual gain, while food services and drinking places advanced 2.7% year-over-year.
The US Dollar Index (DXY) rebounded to the 99.60-99.70 range after two days of declines, supported by the stronger-than-expected data and cautious market sentiment ahead of the Federal Reserve’s policy announcement.