Kathy Bostjancic
Coverage of Kathy Bostjancic in the Nexus archive.
- Retail sales up a strong 0.9% in May, underscoring the resilience of the US consumer
US retail sales rose 0.9% in May, driven by tax refunds and stable gas prices, with broad gains in clothing, furniture, and online sales. However, electronics and department stores saw declines, and economists caution that the tax refund boost may fade as inflation and gas prices remain elevated.
- Retail sales up a strong 0.9% in May, underscoring the resilience of the US consumer
Retail sales in the US rose 0.9% in May, driven by warmer weather, lower gas prices, and tax refunds, with clothing, furniture, and online sales seeing increases. However, electronics and department stores declined, and gas prices remain near $4 per gallon despite a recent 11% drop. The control group, excluding key sectors, showed a 0.7% rise, indicating resilient consumer spending despite inflation.