US retail sales in May beat expectations

June 14, 2016 2:14 pm Published by

US retail sales in May beat expectations

  • 14 June 2016
  • From the section Business

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US retail sales rose more than expected in May due to an increase in car, clothing and online sales, despite a slowdown in employment.

Sales rose by 0.5% last month, after surging by 1.3% in April, according to the US Commerce Department.

April’s figure was the strongest gain since March 2015, and a slowdown in May had been expected by economists.

Car sales rose by 0.5% with spending on fuel at service stations up by 2.1%, reflecting the increase in oil prices.

Sales at clothing stores increased by 0.8%, the largest gain since November.

Online retail sales shot up by 1.3%.

When cars, petrol, building materials and food services are stripped out “core retail sales” rose 0.4%.

Analysts had forecast that sales would rise by about 0.3% last month.

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