U.S. Retail Sales Rise 0.9% in May, Far Exceeding Expectations

U.S. consumer spending in May exceeded market expectations.

The U.S. Department of Commerce announced on the 17th (local time) that U.S. retail sales in May increased by 0.9% compared to the previous month. This figure significantly surpassed the expert forecast of 0.5% compiled by Dow Jones.

Compared to the same month last year, retail sales rose by 6.9%. The growth rate for April was revised down from the previously reported 0.5% to 0.4%.

The U.S. Department of Commerce announced on May 17 (local time) that U.S. retail sales increased by 0.9% compared to the previous month.

By industry, rising gasoline prices due to the aftermath of the Iran war drove a 3.4% increase in gas station sales compared to the previous month, boosting the index. Online shopping (1.1%), automobiles and parts (1.2%), and apparel (0.3%) also saw increases, which is interpreted as an effect of U.S. government tax refunds.

On the other hand, sales at furniture stores (-1.5%) and electronics stores (-0.5%) declined, while sales of groceries and building materials remained flat at 0.0% each.

This content was produced with the assistance of AI translation services.