(CNBC) US retail sales for May shattered the record books, easily surpassing the recovery of post-9/11. Analysts were expecting a large uptick; these numbers doubled their projections.
From the article:
Retail sales shattered already-lofty expectations for May as consumers freed from the coronavirus-induced lockdowns began shopping again. The 17.7% headline gain easily topped the previous record from October 2001 and beat the 8% estimate from economists surveyed by Dow Jones. Retail sales alone powered 16.8% higher from a month ago, more than double the estimate of 8% from Dow Jones and reversing a 16.4% plunge from a month ago. Clothing and accessories stores reported the biggest percentage gain at 188% while sporting goods, hobby, musical instruments and book stores rose 88.2%.
Read the full article: US retail sales May 2020