U.S. Consumers Increase Spending Despite Trade Tensions
American consumers increased their spending in May, providing critical fuel for the U.S. economy’s continued expansion despite trade related tensions in headlines and slowing overall global growth.
Retail sales, a measure of purchases at stores, restaurants and online, rose a seasonally adjusted 0.5% in May from a month earlier, the Commerce Department said Friday.
Overall sales also rose 0.3% in April, an improvement over the department’s previous estimate of a 0.2% decline and an indication that household spending was strong in the spring.
Credit: WSJ, USA