Steve Lamar

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.

Retail sales increased by 0.9% in May, driven by warmer weather and lower gasoline prices, with a revised 0.4% gain in April. Excluding gas stations, sales rose 0.7%, while clothing and home furnishing stores saw growth, and electronics sales declined. A tentative deal to end the Iran war and reopen the Strait of Hormuz may ease gas prices, which fell 11% from a month ago to $4.02 per gallon.

Retail sales increased 0.9% in May, driven by warmer weather and lower gasoline prices, with a 0.7% rise excluding gas stations. Tax refunds in April and May contributed to the growth, though their impact is waning. The Iran war peace deal may ease gas prices, but analysts caution about lingering supply issues and shifting consumer habits.