May retail sales rose faster than expected, signaling stronger consumer demand amid economic uncertainty.
US retail sales increased 0.9% in May, exceeding the 0.5% consensus forecast. The gain follows a 0.5% rise in April and reflects broad-based strength across categories, excluding autos and gas.
Excluding autos, sales matched expectations at 0.5%, while the control group—key for GDP calculations—rose 0.4% against a 0.4% forecast. Year-over-year sales climbed 4.87%, consistent with prior trends.
Bank of America had anticipated the beat, citing resilient consumer spending despite inflation pressures.