U.S. retail spending climbed 17.7% in May — after a historic collapse in March and April. But spending is still nowhere near last year's levels because of the pandemic, and economists warn of a long and uncertain recovery.
Social distancing instructions are seen at California's Westfield Santa Anita shopping mall on June 12, as local businesses enter Phase 3 reopening.Social distancing instructions are seen at California's Westfield Santa Anita shopping mall on June 12, as local businesses enter Phase 3 reopening.As more states and cities reopened restaurants and shopping centers, U.S. retail spendingSpending is still down 6.
because of the coronavirus pandemic. And economists warn of a long and uncertain recovery. But May's upswing follows in March and April, when retail spending nosedived as people avoided outings for food or shopping, especially for clothes and furniture.Retail sales — a measure that includes spending on gasoline, cars, food and drink — are a key part of the economy, which is sputtering back at different rates across the country after weeks of lockdowns. May's sales also got a boost from people spending their tax refunds and coronavirus financial assistance.
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U.S. expected to report record rise in monthly retail salesU.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
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One stock to buy, and one to avoid, ahead of retail sales data, according to OppenheimerRetail stocks are on watch heading into sales data out Tuesday. Ari Wald, head of technical analysis of Oppenheimer, sees winners and losers in the space ahead of the release.
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U.S. Stock Futures Rally Ahead of Retail Sales DataS&P 500 poised to climb for a third consecutive trading session ahead of fresh data that will show how consumer spending fared in May after states began easing lockdown restrictions.
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US retail sales up a record 17.7% in a partial rebound \nBREAKING: US retail sales jumped 17.7% in May, partially recovering after plunging in March and April when the economy froze up. The pandemic’s damage to retail sales remains severe, with purchases still down 6.1% from a year ago.
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U.S. May retail sales surge 17.7% in the biggest monthly jump everU.S. retail sales were expected to rise 8.0% in May, after plunging 16.4% the prior month as retailers went into lockdown amid the coronavirus crisis.
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US retail sales jump record 17.7% in May, double estimates - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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