Economic Outlook May 20, 2022

Nuance and interpretation is in the eye of the office holder.

Retail sales as a whole were up 0.9 percent in April. Americans appeared to be spending more on cars, electronics and at restaurants. However, major retailers like Target, Kohls and Walmart reported lower earnings this week noting shoppers are, again, pivoting on their spending.  

Existing home sales fell for the third straight month with a 2.4 percent drop. Median prices set a record as limited inventory remains an issue.

Creighton University’s Rural Mainstreet Index stepped lower by almost four points but did remain above growth neutral for the 18th consecutive month with a reading of 57.7.