US retail sales jump 0.6 percent in May on autos - WRBL

US retail sales jump 0.6 percent in May on autos

Posted: Updated:
WASHINGTON, D.C. -

Americans stepped up spending at retail businesses in May at the best pace in three months, fueled by more car purchases. The gain shows consumers remain resilient despite higher taxes and could drive faster growth later this year.

The Commerce Department says retail sales increased 0.6 percent in May from April. That's up from a 0.1 percent gain the previous month.

The April gain was led by a 1.8 percent jump in auto sales, the biggest increase in six months. Sales were also up at hardware and general merchandise stores but down at furniture and appliance stores.

Excluding volatile autos, gas and building supplies, core retail sales rose 0.3 percent, slightly higher than the 0.2 percent April increase.

Powered by WorldNow

1350 13th Avenue
Columbus, GA 31901

Telephone: 706.323.3333
Fax: 706.327.6655
Email: news@wrbl.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.