Economist React To May Retail Sales Data: 'Consumer Spending Is Cooling In A Fairly Orderly Fashion'
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- U.S. Retail Sales Data: May retail sales in the U.S. fell short of expectations, rising only 0.1% from April to May, signaling a potential economic growth slowdown.
- Market Reaction: Despite the sales miss, the market remained calm with minimal movement in retail and food services ETFs.
- Retailers' Performance: Major retailers had mixed reactions to the data, with Walmart up, Amazon down, and Home Depot picking up.
- Economists' Insights: Economists expressed concerns about the implications of the retail sales data on the market and highlighted the importance of consumer spending for economic growth.
- Industrial Sector Analysis: The industrial sector was noted to be in "low gear," contributing to lower inflation, while consumer spending shifts were affecting demand for goods.
Analyst Views on XRT
Wall Street analysts forecast XRT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XRT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 89.680
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Current: 89.680
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
