U.S. retail sales jump 0.8% in May, point to strong second-quarter GDP

• June 14, 2018
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance, Your Real Estate Life

Sales at retail stores surged in May, but the increase was a double-edged sword. Americans are spending more because of a strong economy, but rising inflation also means they have to pay more for gas and other staples.

Retail sales nationwide jumped by 0.8% last month, twice as high as the forecast. Sales growth in April and March were also revised up sharply, partly reflecting changes in how the government calculates the numbers.

Retail sales have risen a solid 5.9% over the past 12 months, the government said Thursday. Sales are rising at a more than 5% yearly pace even if gas is excluded.