Economy Watch Weekly: Retail Market Remains Strong Despite Decline
- Jun 19, 2018
U.S. retail sales were up 0.8 percent in May compared to the previous month, according to the Census Bureau, and up 5.9 percent year-over-year. Car sales gained 0.5 percent for the month, but did not drive overall sales, which were up 0.9 percent for the month without car sales factored in.
Most retail categories gained ground for the month. However there were a few losers such as furniture stores, down 2.4 percent, and sporting goods, hobby, music and bookstores down 1.1 percent for the month. The usually robust Internet sales barely gained for the month, only increasing 0.1 percent. Economy Editor Dees Stribling gives a breakdown of the retail sales market, for the week ending June 15, 2018.