WASHINGTON - U.S. retail sales increased less than expected in May in May as lower prices for gasoline and motor vehicles weighed on receipts at service stations and auto dealerships.
Nonetheless, the trend in sales growth has been slowing as higher prices and interest rates force households to prioritize essentials and cut back on discretionary spending.Banks are also tightening access to credit as lower income borrowers increasingly struggle to keep up with their loan payments. Though the labor market remains on a solid footing, it is becoming a bit difficult for people who lose their jobs to quickly find new work and wage increases are moderating.
Retail sales excluding automobiles, gasoline, building materials and food services rose 0.4% last month after a downwardly revised 0.5% drop in April. These so-called retail sales were previously reported to have declined 0.3% in April. While Enbridge remains a top investment choice in 2024, this TSX dividend stock is positioned to outpace the Canadian energy giant. The post Before You Buy Enbridge: Here’s a Different Dividend Stock I’d Buy First appeared first on The Motley Fool Canada.These top Canadian stocks can help TFSA investors generate solid capital gains and dividend income for years. The post TFSA: 3 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.
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