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US Retail Sales Soar By Record In May As Apparel Spending Exploded

Courtesy of ZeroHedge View original post here.

After April's retail sales rout, spending in May was expected to rebound strongly as various parts of the economy reopened (admittedly slowly) with BofA's real-time credit-card tracker suggesting strength in airlines, restaurants, and furniture stores.

However, the actual data was massively better than expected with headline sales soaring 17.7% MoM – a record MoM jump (and April was revised to a smaller drop).

Source: Bloomberg

This sent core retail sales soaring back into the positive on a YoY basis (+2.1%) and headline down (just) 6.1%…

Source: Bloomberg

The rebound was broad-based with all 13 major categories posting increases. Clothing stores led gains, increasing 188% from the month before but autos and furniture also soared…

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