Retail sales rebounded in May as states eased coronavirus-induced lockdown measures, allowing retail stores to regain more ground than analysts expected, according to Department…
Retail sales rebounded in May as states eased coronavirus-induced lockdown measures, allowing retail stores to regain more ground than analysts expected, according to Department of Commerce data.
Retail sales jumped 17.7% in May, effectively doubling expectations and marking the biggest single-month gain in records going back more than 20 years, according to a Commerce Department report released Tuesday. A Bloomberg News survey of economists had anticipated 8.4% increase in retail sales in May as COVID-19-related measures melted away following a 14% decline in April.
