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The US Commerce Department will be releasing the monthly retail sales report today. Economists forecast that retail sales rose 0.3% in June, on a month over month basis. This follows a revised 0.5% increase in May.
The modest expectations come as economists try to pencil in the current economic state. There has been speculation about a possible slowdown in the US economy. However, various data points remain mixed.
Retail sales have grown for two consecutive months so far. A beat on the estimates could potentially see the second-quarter GDP expectations rising. The core retail sales, also known as the control group, are forecast to rise 0.4% on the month.
Retail sales expanded for the second month in May, marking two consecutive months of gains. The numbers for April were also revised higher. And the data for April and May underlined the uptick in consumer spending.
The retail s...
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