May retail sales rebound
Core retail sales in May rose 0.5% from April, and 3.2% year over year, the U.S. Commerce Department said on Friday. Nonstore (mostly e-commerce) sales rose 1.4% month over month and 11.4% year over year, according to the monthly report. April's number was upwardly revised to a 0.3% increase from the previously calculated 0.2% decline. Monthly gains were "broad-based," as Wells Fargo Senior Economist Tim Quinlan noted in an email to Retail Dive.
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