U.S. Retail Sales Surge a Record 17.7% in May Compared to April

Year over year, however, May retail sales were down 6.1%


U.S. retail and food service sales for May rose 17.7% to almost $486 billion versus April’s nearly $413 billion, according to data released today by the U.S. Census Bureau, a record month-over-month increase.

Nearing mid-day trading, the Dow Jones Industrial Average was up nearly 550 points (about 2.1%) as investors cheered the news.

Last month’s number easily beat the previous monthly record of 6.7% set in October 2001, as well as the 8% estimate expected by economists surveyed

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