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US retail sales gain in May; April data revised

Retail sales in the US saw an increase in May while the numbers for April have been revised. Based on data released by the US Census Bureau, advance estimates of US retail and food services sales for May 2019, after certain adjustments, were $519 billion, up 0.5% from April and 3.2% from May 2018. The percent change from March 2019 to April 2019 was revised from down 0.2% to up 0.3%.  

Retail trade sales were up 0.5% from April and 3.1% from last May. On an adjusted basis, sales of motor vehicle and parts dealers rose 0.7% from April and 3.1% from May 2018, amounting to $105.7 billion. For furniture and home furnishing stores, sales were $10.1 billion, an increase of 0.1% from last month and 0.6% from last year.

Also see: INFOGRAPHIC: US retail sales drop 0.2% in April

Sales of $8 billion from electronics and appliance stores grew 1.1% from April but declined 2.4% from May of last year. Food and beverage stores sales were $62.8 billion, down 0.1% versus April and up 1.6% from last May.

Sales from health and personal care stores were $29.8 billion, up 0.6% from April and 3.4% from last May. Sales at clothing and clothing accessories stores remained unchanged from last month at $22.8 billion but saw a drop of 2.3% from the same period last year.

The figures indicate a pickup in consumer spending, which brings optimism at a time when there are concerns over weakness in the economy amid trade tensions between the US and China.

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