the ministry of education and science has launched a program for scientific instrumentation of the nrf also carrying out a number of projects related to ... equipment, a decision was made to direct grants from the fund to promote the development of small forms enterprises, also for components for special technological equipment, in your introduction you had a very important word, this is coordination, here this coordination is very important, because there is a very big temptation when developing complex types of equipment to assume that some components. .. fortunately there are not so many of them, we need it, we will somehow acquire it, but today we are actually cut off from the component market, and there is no need to harbor illusions, this process will continue, so it should not be, well, not very important things along this path, so it is apparently necessary to strengthen here the role of the examination of the academy of sciences, which is very actively involved in... the development of this direction, in order to strengthen this coordination, and a small question regarding sup

we have tens of millions of consumers here and potential customers, so this is a great place for the nrfundreds of exhibitors, thousands of attendees this week. we actually sold out and will be back again next year june 3 to 5, so we are excited for the partnership and look back -- look forward to being back again next year and many years in the future. paul: good stuff. matthew shea, president and ceo of national retail federation. thank you for joining us. still to come, we will preview eddie's economic releases and hear why they think core inflation could -- india's economic releases and hear why they think core inflation could trend higher in the next few months. this is bloomberg. ♪ paul: all right, welcome back. you are watching the india focus just in time for the opening of trading in india. looks like a mostly risk-on day in the early going. we have most of the major indexes of nearby about .20 5%. keeping a close eye on the rupee at the bottom of your screen, just reversing away from those record lows. this is the greenback, but we will be watching that very closely today. also

the cnbc nrf retail monitor uses real credit card spending data from affinity solutions shows may spending0.3 in april. year-over-year it's up 3% compared to a negative number in april. core retail sales, that is food services as well as auto and gas, rose 1.2 versus 0.4 in april. the year-over-year up 3% versus a slight negative in april. it's the sector breakdown that's remarkable. non-store retailers powering up by 2%, restaurants and bars 2%. food and beverage strong, clothing and accessories, sporting goods and general merchandise also strong, gas stations were negative and building and garden supplies negative as well. they've been negative for a while there. this is the strongest of the 20 months we've tracked this data, and it's unclear if it's just a rebound from april or the start perhaps of a new consumer spending spree. it fits well with that strong jobs report we got on friday. now, if this number is repeated next week when census releases their data, it's going to lead almost certainly to an upgrade. it's going to offer the fed another reason not to cut interest rates. the mo