US Retail Sales Rise in May

US retail trade rose 0.5 percent from a month earlier in May 2019, following an upwardly revised 0.3 percent growth in April and compared to market expectations of 0.6 percent.

10 of 13 major retail categories showed month-over-month increases.

Sales at motor vehicle & parts dealers advanced 0.7 percent, reversing a 0.5 percent decrease in the previous month; and those at building material stores edged 0.1 percent higher, after a 0.6 percent drop in April. In addition, receipts at service stations rose 0.3 percent (vs 2.1 percent in April) and online and mail-order purchases jumped 1.4 percent (vs 0.5 percent in April). Sales also increased at: furniture & home furniture stores (0.1 percent vs 0.6 percent); electronics & appliance stores (1.1 percent vs -1.3 percent); health & personal care stores (0.6 percent vs 0.2 percent); hobby, musical instrument and book stores (1.1 percent vs 1.0 percent); general merchandise stores (0.7 percent vs 0.8 percent); and restaurants and bars (0.7 percent vs 0.3 percent).

On the other hand, receipts at clothing stores were unchanged (vs -0.2 percent in April) while sales at miscellaneous store retailers dropped 1.3 percent (vs 1.7 percent in April) and those at food & beverage stores declined 0.1 percent (vs 0.2 percent in April).

Excluding automobiles, gasoline, building materials and food services, retail sales grew 0.5 percent in May after a 0.4 percent advance in the previous month. These so-called core retail sales correspond most closely with the consumer spending component of GDP.

Year-on-year, retail trade growth slowed to 3.2 percent from a revised 3.7 percent in the previous month.

US Retail Sales Rise in May

US Census Bureau | Joana Ferreira |
6/14/2019 12:54:06 PM