Industry News

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

By June 18, 2020 No Comments

U.S. shoppers opened their pocketbooks at malls and auto dealerships in May as states eased restrictions to contain the novel coronavirus, boosting retail spending and adding another sign the economy is recovering from earlier lockdowns to contain the pandemic.

 

Retail sales, a measure of purchases at stores, at restaurants and online, increased a seasonally adjusted 17.7% in May from a month earlier, the Commerce Department said Tuesday.

 

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