Economy

US retail sales May 2020

0


Retail sales shattered already-lofty expectations for May as consumers freed from the coronavirus-induced lockdowns began shopping again.

The 17.7% headline gain including food sales easily topped the record 6.7% from October 2001 — a month after the 9/11 terrorist attacks — and beat the 8% estimate from economists surveyed by Dow Jones.

Retail sales alone powered 16.8% higher from a month earlier, more than double the estimate of 8% from Dow Jones and reversing a 16.4% plunge from the previous month. Clothing and accessories stores reported the biggest percentage gain at 188% while sporting goods, hobby, musical instruments and book stores rose 88.2%.

The government numbers, released…



Source cnbc.com

Dow up 500, retail sales roar back, waiting for Powell

Previous article

Ford unveils 2021 Mustang Mach 1 as new ‘pinnacle’ of pony car lineup

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Economy