US Retail Sales Rise More than Expected in May

US retail sales rose more than expected last month, helped by a jump in car sales, government data has shown.

Retail sales increased by 0.6% in May from April, the Commerce Department said. Analysts had forecast a rise of about 0.4%.

Car sales rose by 1.8%, the biggest gain in six months.

The retail sales data is the government’s first look each month at consumer spending, which makes up 70% of economic activity in the US.

Retail sales account for about 30% of all consumer spending.

Sales at hardware stores increased 0.9% while sales at sporting goods and general merchandise stores also rose.

But sales fell 0.8% at furniture stores and 0.4% at electronics and appliance stores.

Core sales, which exclude vehicles, fuel and building supplies, rose by 0.3%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza