Cooling Sales Curb Optimism on U.S. Growth Rebound: Economy

American consumers paused for breath in May as retail sales climbed less than forecast following an impressive three-month run, tempering forecasts for a rebound in growth this quarter.

The 0.3 percent increase in purchases last month fell short of the median estimate of economists surveyed by Bloomberg that projected a 0.6 percent advance, Commerce Department figures showed today. Receipts for April were revised up to cap the strongest three months in almost two years.