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Retail Sales Up 17.7% in May

1 min read

Retail sales in the United States rose a record 17.7% in May, according to the U.S. Census Bureau, reflecting a surge in buying as businesses that had been shuttered because of the coronavirus pandemic reopened.

Sales overall, however, remained 8% below those in February, before the effects of the pandemic began to be widely felt. May sales totaled $485.5 billion compared with $527.3 billion in February. And compared with year-earlier totals, retail sales were down 6.1% in May.

Sources: U.S. Census Bureau and Federal Reserve Bank of St. Louis
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