Retail Sales Increase as U.S. Consumers Propel Growth Rebound - Bloomberg BusinessSales at U.S. retailers picked up in May, a sign households are finally willing to put the gains from continued job growth and lower fuel prices to work.
The 1.2 percent increase matched the median forecast of economists surveyed by Bloomberg and followed a 0.2 percent advance in April, Commerce Department figures showed Thursday in Washington. The gain was broad-based with 11 of 13 major categories gaining.
The May 2015 Retail Sales Report reinforced data showing that economic activity has rebounded in the second quarter. Total retail sales grew 1.2% over the past month (annualized rate: 15.5%). Retail sales excluding motor vehicles and parts rose 1.0% (annualized rate: 12.6%).
The 12-month change in retail sales was 2.7%. In addition, the average retail sales for the March-May 2015 period was 2.1% above the figure for March-May 2014.
Finally, the March retail sales figure was revised upward by 0.4% and the April figure adjusted upward by 0.6%. The revision erased the previously reported decline in April retail sales.
All said, this was a strong report that reaffirmed the narrative that the U.S. economy continues to grow at a modest to moderate rate in general.
The full report can be found at: http://www.census.gov/retail/marts/w...ts_current.pdf