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.


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