U.S. Retail Sales Up in May

Short and sweet:

From Forbes.com, retail sales in May were up 1.0% which was double economists predictions.  It was the largest consumer spending month since the Christmas season. 

It was the second month in a row that retail spending was higher than expected.  If you deduct automobile sales, the May increase was 1.2%, the largest gain since November, 2007.  Surprisingly, building store sales rose 2.4% in May.

Obviously we’d like to see larger increases, but the fact is that people are spending money.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: