The Commerce
Department reported on Tuesday that sales at U.S. retailers edged up 0.1 per cent m-o-m in May,
following a downwardly revised 0.2 per cent m-o-m fall (from flat m-o-m) in April.
Economists had foreseen
total sales would increase 0.2 per cent m-o-m in May.
According to
the report, the May uptick in the total retail sales reflected advances in 8 retail categories that were offset
by declines in 5 remaining other categories. sporting goods, hobby, musical
instrument, and book stores (+2.8 per cent m-o-m), clothing and clothing
accessories stores (+0.9 per cent m-o-m), motor vehicle and parts dealers (+0.8
per cent m-o-m) and nonstore retailers (+0.8 per cent m-o-m) demonstrated the
largest gains in retail sales in May, while gasoline stations (-2.2 per cent
m-o-m), furniture and home furnishings stores (-1.1 per cent m-o-m) and building
material and garden equipment and supplies dealers (-0.8 per cent m-o-m) showed
the biggest decreases.
Excluding auto,
retail sales slipped 0.1 per cent m-o-m in May after a downwardly revised 0.1
per cent drop m-o-m (from +0.2 per cent m-o-m) in the previous month, being
worse than economists’ prediction
of a 0.2 per cent m-o-m gain.
In y-o-y terms,
U.S. retail sales surged 2.3 per cent in May after an unrevised 3.0 per cent soar in the previous month. This marked
the weakest annual increase in retail sales in three months.