May retail sales surged 17.7%, the biggest monthly jump ever.
Mall employee Glenby Ramirez, right, wipes down the escalator handrail while shoppers pass by as South Coast Plaza reopens, requiring customers maintain a social distance and wear face masks at South Coast Plaza Thursday, June 11, 2020 in Costa Mesa, CA.Retail sales shattered already-lofty expectations for May as consumers freed from the coronavirus-induced lockdowns began shopping again.
Retail sales alone powered 16.8% higher from a month ago, more than double the estimate of 8% from Dow Jones and reversing a 16.4% plunge from a month ago. Clothing and accessories stores reported the biggest percentage gain at 188% while sporting goods, hobby, musical instruments and book stores rose 88.2%.
President Donald Trump was quick to post on the news, tweeting that it "looks like a BIG DAY FOR THE STOCK MARKET AND JOBS!" even though there are no employment numbers out Tuesday.
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