Free Trial

MNI: Retail sales in May skyrocketed up by 17.7%,....>

MNI, NEWS
MNI: Retail sales in May skyrocketed up by 17.7%, the largest m/m increase
recorded in the report's history and nearly triple that of the previous record
high (October 2001). Last month's drop was also revised up to -14.7% (previously
-16.4%). Clothing and accessories sales jumped by 188.0% alongside a 44.1% jump
in sales for motor vehicles and parts, 89.7% in furniture, 29.1% in food service
and drinking places, and 50.5% in electronics and appliances. Gasoline stations
also saw a 12.8% uptick. The retail sales control group (ex. gas and auto sales)
increased by 12.4%. The historic surge in retail sales was likely driven by the
easing of nationwide lockdowns and social distancing.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.