Retails Sales Rise In May
Tweet
Share
E-mail
Today's retail sales numbers gave investors something to hang their hat, rising for the first time in three months.
Data today showed that May retail sales rose 0.5%, which was in-line with economist forecasts. Ex-autos, retail sales grew 0.5%, which was more than double the 0.2% rise economists had forecasted. Last month's retail sales number was also revised up show a 0.2% drop, versus the original report of a 0.4% drop. Last month's retail sales number ex-autos was also revised up to show a smaller drop of 0.2%.
Car sales rose to a 9.9 million annual unit pace, which is up from a 9.3 million rate the prior month. Car dealers benefited as consumers looked for bargains at Chrysler and GM dealerships that are set to close as part of the automakers restructuring.
Data today showed that May retail sales rose 0.5%, which was in-line with economist forecasts. Ex-autos, retail sales grew 0.5%, which was more than double the 0.2% rise economists had forecasted. Last month's retail sales number was also revised up show a 0.2% drop, versus the original report of a 0.4% drop. Last month's retail sales number ex-autos was also revised up to show a smaller drop of 0.2%.
Car sales rose to a 9.9 million annual unit pace, which is up from a 9.3 million rate the prior month. Car dealers benefited as consumers looked for bargains at Chrysler and GM dealerships that are set to close as part of the automakers restructuring.
Create E-mail Alert Related Categories
Economic DataRelated Entities
Chrysler LLCSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
