| Rise in US retail sales |
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| Friday, 13 June 2008 | |
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Consumers are shopping again. According to the US Commerce Department, American retail sales climbed by the largest amount in six months
during May after spending was helped by tax rebates.
Sales rose by a better-than-expected 1% in May, the largest rise since November. The Commerce Department also said April's figure had been revised up to a rise of 0.4% against the previous estimate of a 0.2% fall. Economists said the rise indicated that the economy had been given a boost by the stimulus package under which millions of Americans got tax rebates. Core retail sales rose 1.2%, the Commerce Department said. Analysts had predicted that retail sales would rise by 0.6% and core retail sales would grow by 0.7% |
