Retail Sales Increase In May; E-Commerce A Highlight
Americans opened their wallets in May, giving the economy a boost.
Retail and restaurant sales were up 0.5% month-over-month and 3.2% higher year-over-year, the Commerce Department said Friday.
Adjusted sales were $519 billion in the month, while data for April was also revised upward, making for two months of strong consumer spending after a slowdown in the first three months of the year.
A big part of the increase in retail sales last month came from an 11.4% jump in non-store retailers, including online sellers, over the same month a year ago.
Sporting goods retailers, hobby and music stores and bookstores saw year-over-year declines.
Grocery store spending was flat month-to-month, but up 1.7% over the previous year. Restaurant spending was up slightly month-over-month, and up 3.7% year-over-year. Gas station sales rose 0.3% over April.
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