Retail Sales Rose In May

by MR Magazine Staff

The good news beat analyst expectations and helped offset a disappointing jobs report last month. U.S. retail sales rose more than expected in May as Americans bought automobiles and a range of other goods, suggesting economic growth was gaining steam despite a sharp slowdown in job creation. The Commerce Department said on Tuesday retail sales increased 0.5% month after surging by an unrevised 1.3% in April. It was the second straight month of gains and lifted sales 2.5% from a year ago. Read more at Money.