May US retail sales continue gain

US retail sales rose again in May as consumers continued to spend despite economic challenges, says the National Retail Federation (NRF). “Consumers continued to spend on household priorities in May, supported by gains in the job market and wages,” says Matthew Shay, CEO and president of the NRF. “Retailers recognize the ongoing pressure on cost-sensitive consumers and are offering competitive pricing, a wide product mix, and convenient shopping options to help stretch family budgets.” NRF’s calculation of retail sales – which excludes automobile dealers, gasoline stations, and restaurants to focus on core retail – showed May was up 0.4% from April and up 4.4% unadjusted year over year. In April, sales were up 0.6% month over month and up 1.4% year over year. May sales were up in six out of nine retail categories on a yearly basis, led by health and personal care stores, online sales, and grocery and beverage stores, and across the board on a monthly basis. Building materials and garden supply store sales were up 2.2% month over month seasonally adjusted and up 1.9% unadjusted year over year.