U.S. retail sales climb 0.5% in May
The U.S. Commerce Department released the retail sales data on Tuesday. The U.S. retail sales climbed 0.5% in May, exceeding expectations for a 0.3% rise, after a 1.3% fall in April.
The increase was mainly driven by a rise in sales at service stations.
Sales at clothing retailers were up 0.8% in May, sales at building material and garden equipment stores decreased 1.8%, while sales at auto dealerships rose 0.5%.
Retail sales excluding automobiles rose 0.4% in May, in line with expectations, after a 0.8% gain in April.
Sales at service stations climbed 2.1% in May, while sales at furniture stores fell 0.1%.