Thursday, June 12, 2014

Retail Sales Rose A Modest 0.3% in May

Retail sales improved modestly in May, growing 0.3% from the month prior. However, May’s report included an upward revision to April’s headline number. Excluding automobile and gasoline sales, retails sales remained flat in May. Year-over-year growth was 4.3%, down 0.3% from the previous month.

Retail gains in May were led by auto dealers, which saw sales increase by 1.4%. The decline in sales was broad based across other key retail segments. The largest monthly decline in sales occurred at retail stores, which dropped 1.4% in May. However, the drop did not fully offset the large 1.9% gain in April.

The outlook for future growth is positive. Year-over-year growth has remained above 4% for three consecutive months, the first time since last summer.

Read the Census report.

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