The big number for the week, retail sales, fell in May, by -0.2%, which was along the lines of the median forecast.  The non-auto component was weaker than expected, though, by almost 0.5%.  Additionally, data from earlier recent months was revised downward.  Weakness emerged from several areas, especially those on the ‘fringe’ of spending, such as sporting goods stores, health and personal care.  However, areas like clothing, furniture and electronics were up—which appears odd, but is in line with the inconsistent results from some of these metrics.  We expect more of the same going forward. Read more