US trade data were bullish for the month of May as it eclipsed analysts’ predictions, the Commerce department announced on Tuesday. Retail sales rose by 0.5 percent from the previous month, surpassing an expected 0.3 percent rise.
Core retail sales stood at 0.4 percent in line with analysts’ forecast. Export and import price indices were up 1.1 percent from a forecasted 0.3 percent and 1.4 percent from expected 0.7 percent m/m, respectively. Firm retail sales is a strong sign of higher consumer spending which are expected in Q2.
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