The Commerce Department released a report on Thursday showing an unexpected increase in U.S. retail sales in the month of May.
The report said retail sales rose by 0.3 percent in May after climbing by 0.4 percent in April. The continued advance surprised economists, who had expected retail sales to edge down by 0.1 percent.
The unexpected increase in retail sales was partly due to a jump in sales by motor vehicles and parts dealers, which shot up by 1.4 percent in May after rising by 0.4 percent in April.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.