Tuesday, June 16, 2020

Retail Sales increased 17.7% in May

by Calculated Risk on 6/16/2020 08:37:00 AM

On a monthly basis, retail sales increased 17.7 percent from April to May (seasonally adjusted), and sales were down 6.1 percent from May 2019.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for May 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $485.5 billion, an increase of 17.7 percent from the previous month, but 6.1 percent below May 2019. Total sales for the March 2020 through May 2020 period were down 10.5 percent from the same period a year ago. The March 2020 to April 2020 percent change was revised from down 16.4 percent to down 14.7 percent.
emphasis added
Retail Sales Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were up 18.0% in April.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Year-over-year change in Retail Sales Retail and Food service sales, ex-gasoline, decreased by 3.9% on a YoY basis.

The increase in May was well above expectations, and sales in March and April were revised up.