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Monday, June 25, 2018 2:12:05 AM EDT

Retail Sales Updated 14-Jun-18 09:44AM ET

Retail sales increased 0.8% in May ( consensus +0.4%) and were revised up to 0.4% (from 0.3%) in April.

Excluding autos, retail sales jumped 0.9% ( consensus +0.5%) and were revised up to 0.4% (from 0.3%) in April.

The only two retail categories seeing a decline in sales in May were furniture and home furnishing stores (-2.4%) and sporting goods, hobby, musical instrument and book stores (-1.1%)

Gasoline station sales increased 2.0%

Motor vehicle and parts dealers sales rose 0.5%

The largest sales increases were registered for miscellaneous store retailers (+2.7%) and building material, garden equipment, and supplies dealers (+2.4%), which rebounded after a cold/wet month of April

On a year-over-year basis, total retail sales were up 5.9% in May and up 6.4%, excluding autos

The key takeaway from the report is that consumer spending on goods was strong in May, which will feed expectations for a healthy pickup in second quarter GDP growth.
Retail Sales0.8%0.4%0.7%0.1%-0.1%
Excluding Autos0.9%0.4%0.4%0.4%0.1%
Durable goods
Building Materials2.4%-0.8%-1.2%1.4%-1.5%
Nondurable goods
General Merchandise1.2%-0.3%0.4%0.1%0.0%
Gasoline stations2.0%1.0%0.0%0.2%1.6%