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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