Thursday, June 14, 2018

U.S. retail sales jump 0.8% in May, point to strong second-quarter GDP

Sales at retail stores surged in May, but the increase was a double-edged sword. Americans are spending more because of a strong economy, but rising inflation also means they have to pay more for gas and other staples.

Retail sales nationwide jumped by 0.8% last month, twice as high as the MarketWatch forecast. Sales growth in April and March were also revised up sharply, partly reflecting changes in how the government calculates the numbers.. . . more