Retail Sales in the U.S. Increase, Indicating Consumer Resilience
· Telemundo McAllen (KTLM)
Consumers increased their spending in May, exceeding expectations as temperatures rose and gasoline prices stabilized. Retail sales rose by 0.9%, compared to a revised gain of 0.4% in April, according to data from the Commerce Department released on Wednesday. Sales received a boost from generous government tax refunds in both April and May, although economists note that this cash cushion is starting to fade. Excluding sales at gas stations, retail sales in May increased by 0.7%. The figures are not adjusted for inflation, so they may be slightly inflated by higher prices. Economists point to healthy spending, with widespread increases even in clothing, accessories, and furniture stores. Online sales rose by 1.5%. There were some weak points, as both electronics and appliance stores and department stores recorded slight declines in sales.
AI summary · Source: Telemundo McAllen (KTLM) →
