May Retail Sales Make Record Jump
Customers are desperate to get back to spending. That became obvious when the U.S. Department of Commerce released May retail sales numbers Tuesday morning, showing a 17.7% surge in retail sales.
Whether it was due to the easing of government lockdown restrictions or Americans using their stimulus checks, people drove retail sales higher after a 14.7% drop in April. The rise in spending still didn't meet 2019 levels, however, remaining 6.1% below May spending a year ago.
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Source Fool.com
