U.S. May retail sales rose 0.5% for both headline and ex-autos
U.S. May retail sales rose 0.5% for both headline and ex-autos. Headline April sales were revised to a 0.3% increase (was -0.2%, and March was bumped to 1.8% from 1.7%). The April ex-auto component was nudged up to 0.5% (from 0.1%, with March at a 1.4% gain from 1.3%). Sales excluding autos, gas, and building materials increased 0.5% after a 0.4% prior gain (revised from unchanged). Auto sales rebounded 0.7% in May versus -0.5% (revised from -1.1%). Gas station sales edged up 0.3% from 2.1% (revised from 1.8%). Food, beverage sales dipped 0.1% from 0.2%. Clothing sales were flat versus -0.2%. Electronics increased 1.1% from -1.3%, with sporting goods sales rising 1.1% as well versus 1.0% (revised from 0.2%). Non-store sales climbed 1.4% versus 0.5% (revised from -0.2%). The sales data, with the revisions, are much better than expected and should damp concerns over the consumer.