Retail sales jumped record 18% as economy rebounded from coronavirus shutdown in May

.

Retail sales increased 18% in May, the U.S. Census Bureau reported on Tuesday, as states reopen their economies.

Economists predicted that sales would rise by 7.4%.

Last month’s jump in sales beats the previous record set in 2001, when retail sales increased 6.7% in October as people resumed shopping after 9/11.

May’s increase comes on the heels of retail sales contracting by a record 14.7% in April and 8.3% in March.

Sales for brick-and-mortar stores were up 16.8%, while sales at non-store retailers skyrocketed nearly 31% last month.

The biggest gains were in clothing and clothing accessories stores, which had a 188% increase in sales.

Another big winner was the furniture and home furnishing sector, which experienced a nearly 90% increase in sales.

Restaurants and bars, mostly shuttered in March, saw a 29.1% increase in sales.

Grocery stores improved little, having seen a 1.3% increase in sales last month.

Related Content

Related Content