Stronger retail sales, however, could add further fuel to the inflation fires burning through the U.S. economy.
Americans unexpectedly increased their spending at retail outlets in May as sales increased across a broad swath of merchants, defying expectations for a decline.
Sales of motor vehicles and auto parts were much stronger than expected. Wall Street had expected a decline based on the unit sales figures reported by manufacturers. Instead, the dollar figure of sales rose 1.4 percent following the 0.4 percent rise in the prior month. Year-to-date sales are up two percent compared with last year.
Excluding motor vehicles and gas station sales, retail sales and restaurant sales were up 0.4 percent for the month, a sizeable gain, and are up 5.6 percent year-to-date.
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