02:47 PM EDT, 06/17/2025 (MT Newswires) -- Retail sales fell by 0.9% in May and were still down 0.3% excluding a 3.5% drop in motor vehicle and parts sales, below estimates for both metrics.

A 2% drop in gasoline station sales and a 2.7% drop in building materials sales were the key factors, offset by gains for furniture, clothing, sporting goods and at miscellaneous and nonstore retailers.

Control group retail sales, which exclude motor vehicles, gas, building materials, and food services, rose by 0.3% after a 0.1% decline in April.

May industrial production fell by 0.2% after a 0.1% gain in April, with manufacturing production up 0.1% overall but down 0.3% excluding a 4.9% jump in motor vehicle and parts production.

Utilities output fell by 2.9% on a sharp decline in electricity production that was partially offset by a gain in natural gas production. Mining production rose by 0.1%.

Import prices held steady in May and were up 0.3% excluding 4% drop in fuel prices. Petroleum prices were down 3.7%.

Export prices fell by 0.9% in May and were down 1% excluding a 0.2% gain in agricultural prices.

The New York Federal Reserve's monthly business leaders index, a measure of services conditions, rose to minus 13.2 in June from minus 16.2 in May, indicating slower, but still brisk, pace of contraction. Other services data will be released over the coming weeks.

Business inventories were flat in April, as expected, and followed a 0.1% increase in March. Business sales fell by 0.1%, with declines at the factory and retail levels that were offset by a small increase in wholesale sales.

The National Association of Home Builders Housing Market Index fell to 32 in June from 34 in May and was down significantly from a reading of 43 a year ago.

NAHB said the decline was due to potential buyers being deterred by high mortgage rates and economic and tariff uncertainty.

Redbook reported that US same-store retail sales were up 5.2% year-over-year in the week ended June 14, faster than a 4.7% gain in the prior week due to spillover gains from Father's Day, including seasonal items.

The Q2 GDPnow estimate from the Atlanta Fed is for a 3.5% gain, revised down from a 3.8% gain reported on June 9. The next estimate is scheduled for Wednesday.