US retail sales rise less than expected in May

The US economy released at 12:30 GMT, its reading for the retail sales during May, which rose by 0.5%, lower than economists' forecasts of a 0.7% gain, while better than the previous reading of 0.3% after it was revised from a decline by 0.2%.

The core retail sales (excluding auto sales) for the same month rose by 0.5%, in line with forecasts, higher than the previous reading of a rise by 0.5% after it was revised from a rise by 0.1%, this statement is considered positive for the US economy.