Census Bureau Confirms Strong May Retail Estimates…

The U.S. Census Bureau reported that advance estimates of U.S. Retail industry sales for May (which exclude automobiles, gas stations, and restaurants) rose 4.9% unadjusted over last year and 1.5% seasonally adjusted from April. The report estimates that sales in the Sporting Goods, Book and Music Store sector were up 1.8% from April and 2.5% from May last year.

Total retail and food services sales for May, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $377.9 billion, an increase of 1.4% (±0.7%) from the previous month and 5.0% (±0.7%) above May 2006.

Retail trade sales were up 1.5% (±0.7%) from April 2007 and were 4.9% (±0.8%) above last year. Clothing and clothing accessories stores were up 7.8% (±1.5%) from May 2006 and sales of non-store retailers were up 7.7% (±4.5%) from last year.

Census Bureau Confirms Strong May Retail Estimates

The U.S. Census Bureau reported that advance estimates of U.S. Retail industry sales for May (which exclude automobiles, gas stations, and restaurants) rose 4.9% unadjusted over last year and 1.5% seasonally adjusted from April. The report estimates that sales in the Sporting Goods, Book, and Music Store sector were up 1.8% from April and 2.5% from May last year.

Total retail and food services sales for May, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $377.9 billion, an increase of 1.4% (±0.7%) from the previous month and 5.0% (±0.7%) above May 2006.

Total sales for the March through May 2007 period were up 4.2% (±0.5%) from the same period a year ago. The March to April 2007% change was revised from -0.2% (± 0.7%)* to -0.1% (± 0.2%)*.

Retail trade sales were up 1.5% (±0.7%) from April 2007 and were 4.9% (±0.8%) above last year. Clothing and clothing accessories stores were up 7.8% (±1.5%) from May 2006 and sales of nonstore retailers were up 7.7% (±4.5%) from last year.

“After a lackluster April, consumer spending rebounded nicely in May,” said NRF Chief Economist Roz Wells in a release. “With retail sales increasing, the economy is getting a much-needed boost.”

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