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May retail sales up says Commerce Dept.

6/14/2007

WASHINGTON The U.S. Commerce Department reported that retail sales in the United States saw its largest gain in 16 months, rising 1.4% in May, beating economists' expectations, according to reports.

Clothing stores saw the highest sales gain in May with 2.7%. Building materials store sales followed with an increase of 2.1%.

 

 

Music, book and sporting goods stores also faired well with an increase of 1.8%. Department store and electronics and appliance stores both saw sales increase by 1.3% in May, while general merchandise store sales rose 1%.

 

 

Food stores saw the lowest gain, at just 0.3%.

“After a lackluster April, consumer spending rebounded nicely in May,” stated NRF chief economist Roz Wells. “With retail sales increasing, the economy is getting a much-needed boost.”

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