A fresh look at the US consumer is coming up with May retail sales

The story of American consumers this year has been one of incredible resilience despite plunging consumer confidence. The message has been clearly heard by the market now that what they say doesn’t match up with how they are spending — call it a triumph of advertising.

Or maybe the rug is about to be pulled and the credit cards are maxed out. The hard data for May comes at the bottom of the hour, with sales expected down 0.7% on the headline but up 0.3% in the closely-watched control group, which excludes autos, gasoline and building materials.

This article was written by Adam Button at www.forexlive.com.