US Retail Sales Rise in Broad Gain Despite Higher Gas Prices (opens original article in a new tab)

US retail sales increased in May despite higher gas prices, showing broad consumer spending growth across multiple sectors.

• US retail sales rose 0.9% in May, marking four consecutive months of growth
• Gas station receipts increased 3.4% due to higher gasoline prices, while non-gas sales rose 0.7%
• Consumer spending showed broad-based strength across multiple retail categories including motor vehicles and online retailers
• Control-group sales, excluding certain sectors, rose 0.7% indicating GDP growth potential