Retail sales in May surge 17.7%, shattering previous record

by Peter Heck · Jun 16th, 2020 9:39 am

Following the easing of coronavirus lockdowns across the country, U.S. retail numbers from May show a surge of 17.7%. That jump, which more than doubled the 8% increase experts had predicted, set the record for the largest single month jump in history.

The 17.7% number includes food sales, but retail alone plowed forward 16.8%, nearly completely reversing the devastating 16.4% slide that occurred in April. The numbers were encouraging across the board:

  • Clothing and accessories stores: 188% increase.
  • Sporting goods, books, and music stores: 88.2% increase.
  • Motor vehicles and parts stores: 44.1% increase.
  • Food service stores: 29.1% increase.

The Dow set to open Tuesday up 1,000 points.


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