US Retail Sales Post Biggest Gain in 6 Months

US retail trade rose by 0.8 percent month-over-month in May 2018, following an upwardly revised 0.4 percent advance in April and easily beating market expectations of a 0.4 percent gain. It was the steepest increase in retail trade since November.
US Census Bureau | Joana Ferreira | 6/14/2018 12:56:12 PM
10 of 13 major retail categories showed month-over-month increases.

Sales at gasoline stations jumped 2 percent (vs 1 percent in April) and those at motor vehicle & parts dealers advanced 0.5 percent (vs 0.2 percent in April). In addition, a rebound was seen in sales at building material stores (2.4 percent vs -0.8 percent), miscellaneous store retailers (2.7 percent vs -0.3 percent), food services & drinking places (1.3 percent vs -0.3 percent), and general merchandise stores (1.2 percent vs -0.3 percent). Sales also rose at: electronics & appliance stores (0.2 percent vs 0.6 percent); clothing & clothing accessories stores (1.3 percent vs 1.2 percent); health & personal care stores (0.5 percent, the same as in April); and nonstore retailers (0.1 percent vs 1.5 percent).

Meanwhile, sales at furniture & home furniture stores fell the most since December 2013 (-2.4 percent vs 2.7 percent) and those at sporting goods, hobby, book & music stores also continued to drop (-1.1 percent vs -0.2 percent).

Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.5 percent last month after an upwardly revised 0.6 percent increase in April.

Year-on-year, retail trade grew 5.9 percent in May, compared with a 4.8 percent rise in April.

US Retail Sales Post Biggest Gain in 6 Months