May retail sales up says Commerce Dept.
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.”