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U.S. Retail Sales Rose Record 18% in May

Posted on AllSides June 16th, 2020
From The Center

Renewed shopping drove a record 17.7% increase in retail sales in May, though total spending remained below levels before coronavirus.

May’s jump in retail spending marked the biggest monthly increase in records dating back to 1992, and followed the largest monthly drop on record in April, a revised 14.7% seasonally adjusted decline, the Commerce Department said Tuesday. Retail sales totaled $486 billion in May, a level well below prepandemic levels. February retail sales, for instance, were $527 billion.

The increase followed three straight months of declining retail sales, and offered...

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https://www.wsj.com/articles/shoppers-returned-in-may-likely-spurring-increased-retail-sales-11592299802

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