Jun 14, 2011
The U.S. Census Bureau estimated retail and food services sales for May at $387.1 billion today, down 0.2% from April, but up 7.7% from May of 2010.
Economists had expected a drop of 0.7% for May. The increase from March 2011 to April 2011 was revised down from 0.5% increase to a 0.3% increase.
Excluding slumping motor vehicle sales, which fell 2.9% from April, total retail sales rose 0.3%.
Core sales, which exclude automobiles, gasoline, and building materials, increased 0.2% in May from April.
For the first five months of the year, retail sales have totaled $1.87 trillion, an 8% increase over the same period in 2010.
Sales at gasoline stations, up 17.5%, lead the pack, followed by sales of motor vehicles, which despite slumping in April and May due to the Japanese earthquake, are still up 13.3% so far this year.
Oil & Gas Post
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