Associated Press article on US retail sales.
BY ASSOCIATED PRESS
THE ASSOCIATED PRESS
WASHINGTON - US retail sales rose for the fourth consecutive month in May, further evidence that consumer spending will drive economic growth..
Consumer spending grew 0,3% in May, fueled by growth in auto demand, the Commerce Department reported Thursday. The increase in April was 0,5% and in March 1,5%, the highest for a month in the last four years.
Retail sales fell sharply in January as winter storms affected shopping and other types of economic activity. The first quarter registered a 1% decrease in the economy. But With consumer spending reviving, economists forecast a rebound of 3% or possibly more in the current April-June period.
For May, car sales increased 1,4%. It was an expected increase since dealers reported last week that May sales were the highest in nine years, driven by strong demand for SUVs and trucks.
Other sectors did not record such growth. The broad category that includes department stores and businesses such as Wal-Mart and Target posted a 0,6% drop in sales.