US retail sector posts healthy gains in May | The Daily Star
12:00 AM, June 16, 2019 / LAST MODIFIED: 12:00 AM, June 16, 2019

US retail sector posts healthy gains in May

American consumers spent freely on automobiles and electronics last month, giving the retail sector a boost even as worries mount that the US economy is slowing, government data showed Friday.

News of the upswing in spending came as the picture for April also changed for the better, suggesting retail sales were likely to support GDP growth in the second quarter.

Sales rose 0.5 percent compared to April to $519 billion, according to the Commerce Department’s latest estimate, putting them up 3.2 percent above May of last year. The result was below forecasts but appeared smaller after April was revised upwards from a decline to a modest 0.3 percent increase.

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