May retail sales see 1% increase over April

WASHINGTON The U.S. Census Bureau reported that U.S. retail and food services sales for May were $385.4 billion, an increase of 1% from the previous month and 2.5% above May 2007. Total sales for the March through May 2008 period were up 2.6% from the same period a year ago.

Commerce Secretary Carlos Gutierrez commented, “Today’s retail sales release is welcome news.The bipartisan economic growth package proposed by the President is starting to kick in and today we are seeing some positive signs of its impact on the U.S. economy. The Treasury Department has acted quickly to distribute stimulus checks to American consumers—approximately half of the payments have been sent out so far—with more to come in the weeks ahead. Putting cash in the hands of about 130 million American households allows consumers to spend their money as they see fit.”