As expected auto sales slowed in May and U.S. retail sales posted just a one-tenth percent increase from April. On a seasonally adjusted basis, retail sales last month were $364.2 billion, compared with $363.9 billion in April, the U.S. Commerce Department reported on June 13. Economists generally anticipated the small increase.
Autos weren't the only slower sellers in May. Furniture and home furnishing sales as well as sales of building supplies and garden equipment also slowed.
Retail sales are a closely watched economic indicator since consumer spending accounts for about two-thirds of all U.S. economic activity.