Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Jun 18 - 12:55 AM

Goldman Sachs: What We Expect from Tomorrow's US Retail Sales Print for May

By eFXdata  —  Jun 17 - 04:30 PM


Goldman Sachs projects a significant rebound in retail sales growth for May, with expectations of a +0.3% increase in headline retail sales and a +0.5% rise in core retail sales. This positive outlook is driven by a recovery in consumer spending following seasonal adjustments and increased credit card spending.

Key Points:

  1. Previous Month's Performance:

    • Core retail sales fell in April after a strong rise in March.
    • The decline led to concerns about a potential slowdown in consumer spending.
  2. Seasonal Adjustment Considerations:

    • The timing of Easter can make seasonal adjustments challenging, hence March and April's data are best viewed in combination.
    • Overall, Goldman Sachs maintains a solid outlook for consumer spending.
  3. May Retail Sales Forecast:

    • A forecasted rebound in retail sales for May with a +0.3% increase in headline sales and a +0.5% rise in core sales.
    • The rebound is supported by an uptick in credit card spending at retailers.
  4. Factors Influencing the Forecast:

    • Headline retail sales are expected to be softer than core sales due to lower gasoline prices, which are anticipated to offset higher auto sales.


Goldman Sachs anticipates a positive turnaround in retail sales for May, driven by adjusted seasonal factors and increased consumer spending through credit cards. Despite a potential drag from lower gasoline prices, the overall outlook for consumer spending remains solid.

Goldman Sachs Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved