Keeping you up to date on the latest data releases.
- Retail Sales
Total retail sales increased at a nonannualized rate of 0.6 percent in May, slightly higher than the 0.1 percent increase observed in April. On a yearly basis, retail sales are up 4.3 percent. Auto sales increase 1.8 percent, making May the second consecutive month of gains. Excluding autos, retail sales increased 0.3 percent in May and over the past 12 months, retail sales excluding autos have increased 3.2 percent. Contributing to the monthly gain in total sales were improvements for motor vehicles and parts (up 1.8 percent), building materials (up 0.9 percent), and nonstore retailers (up 0.7 percent). Sectors that saw the largest declines in May were furniture and home furnishing stores (down 0.8 percent), electronics and appliances (down 0.4 percent), and food service and drinking places (down 0.4 percent). A less volatile indicator of sales growth, “core” retail sales (which excludes sales of autos, building supplies, and gas stations) increased 0.4 percent in May following an increase of 0.5 percent in April. On a year-over-year basis “core” retail sales are up 3.4 percent.