U.S. Retail Sales Climb Much More Than Expected In May
(RTTNews) - Retail sales in the U.S. increased by much more than expected in the month of May, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said retail sales grew by 0.9 percent in May after rising by a downwardly revised 0.4 percent in April.
Economists had expected retail sales to climb by 0.5 percent, matching the increase originally reported for the previous month.
Excluding a jump in sales by motor vehicle and parts dealers, retail sales still advanced by 0.8 percent in May after climbing by 0.7 percent in April. Ex-auto sales were expected to rise by 0.5 percent.
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