U.S. retail sales up a record 17.7% in a partial rebound
U.S. retail sales jumped in May by the most on record and double forecasts, regaining more ground than expected after unprecedented drops the prior two months, as states allowed more merchants to reopen.
The retail figures suggest the economy is rebounding faster than anticipated after entering in February what’s likely to be the steepest downturn since the Great Depression. After months of being stuck at home, Americans began to travel and shop as states relaxed lockdowns on businesses. An uptick in the labor market in May and income support for those who lost their jobs during the pandemic helped underpin spending.Wow! May retail sales show biggest one-month increase of ALL TIME, up 17.7%.
The so-called “control group” subset of sales, which excludes food services, car dealers, building-materials stores and gasoline stations, increased 11% from the prior month. In more normal times, the measure is viewed as a better gauge of underlying consumer demand.The figures corroborate other data showing the economy is stabilizing. Figures from the Federal Reserve Bank of New York on Monday showed a gauge of manufacturing in the state rose more than forecast in June.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US retail sales jump record 17.7% in May, double estimates - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
US retail sales up a record 17.7% in a partial rebound \nBREAKING: US retail sales jumped 17.7% in May, partially recovering after plunging in March and April when the economy froze up. The pandemic’s damage to retail sales remains severe, with purchases still down 6.1% from a year ago.
Weiterlesen »
US retail sales up a record 17.7% in a partial reboundU.S. retail sales jumped by a record 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy and paralyzed consumers during the previous two months
Weiterlesen »
U.S. expected to report record rise in monthly retail salesU.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
Weiterlesen »
U.S. Stocks Open Higher as Retail Sales ReboundThe S&P 500 climbed for a third consecutive trading session as fresh data showed consumer spending rebounded in May after states began easing lockdown restrictions.
Weiterlesen »