“Far bigger than projected.
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U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.The Commerce Department said on Friday retail sales rose 0.5% last month as households bought more motor vehicles and a variety of other goods. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in A first estimate of retail sales in volume and value terms, seasonally and non-seasonally adjusted. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Shoppers walk past sale signs in a mall, White Plains, N.Y. Receipts at service stations rose 0.3%.Building materials and garden equipment sales edged up 0.1%, while online and mail-order purchases jumped 1.4%.Sales at clothing stores were unchanged and receipts at furniture outlets nudged up 0.1%. Retail sales in the U.S. increased by 17.7 percent in May, but were still below 2019 numbers. May retail sales show biggest one-month increase of ALL TIME, up 17.7%,” Trump tweeted. There were large increases in turnover in cafes, restaurants and takeaway food services, and clothing, footwear and personal accessory retailing. Retail Sales MoM in the United States averaged 0.36 percent from 1992 until 2020, reaching an all time high of 18.20 percent in May of 2020 and a record low of -14.70 percent in April of 2020. In addition, manufacturing production and home sales fell in April. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.They were previously reported to have been unchanged in April. Retail sales revisions triangles, three-month growth. On a monthly basis, retail sales rose 0.79% in May, which was broadly in line with April’s 0.77% expansion. The outlook for consumer spending is mixed. as it switches its focus on to-go orders and expects to lose $3.2 billion in revenue during its third quarter, which ends in June. “They’re not going into physical stores in April and in May.”Despite sales figures still being down compared to 2019, President “Wow!
Detailed revisions analysis for three months, Great Britain; includes a 12-month comparison. Data is a real-time snapshot *Data is delayed at least 15 minutes. Sales at bars and restaurants increased 0.7% last month, while those at hobby, musical instrument and book stores rose 1.1%.Got a confidential news tip?
The economy grew at a 3.1% pace in the January-March quarter after getting a temporary boost from exports and an accumulation of inventory.Exports dropped in April and inventory investment is slowing. U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease … “But it’s down 6.1 percent below May 2019, don’t break out the champagne and noisemakers.”Newlin added that most retailers tend to compare store health by year-over-year sales, not month-over-month, and the May increase is coming after a “horrible pandemic placed series of months.”“What it’s telling, if you can bear to know it, is that people are changing their behavior and shopping online,” she said. Clothing store sales in May were still down by 42.9 percent compared to 2019.Other sectors to post huge gains between April and May were furniture stores — which increased by nearly 90 percent — and sporting goods, hobby, musical instruments and book stores, which all together posted an 88.2 percent gain in May.Emergency measures to halt the spread of the coronavirus caused many retailers to temporarily shutter in late March while shoppers stayed at home and millions of Americans lost their jobs.March and April saw historic declines in retail sales but experts believed May’s numbers to start improving as many states started to lift coronavirus restrictions and malls and shops reopened. Photo: Stephanie Keith/Getty Images Retail sales in the United States spiked by 17.8 percent between April and May, a sign that the market is starting to recover after record drops caused by the coronavirus pandemic , according to figures released today by the United States Census Bureau .
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