U.S. Economy

US retail sales rise in May; April revised higher

U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.

Underlying U.S. producer inflation pushing higher

Producer prices excluding food, energy and trade services rose 0.4 percent last month, matching April's gain, the government said. The so-called core PPI increased 2.3 percent in the 12 months through May after rising 2.2 percent in April.