US retail sales soar 17.7%, biggest monthly increase ever | Fox Business
U.S. retail sales jumped 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy and paralyzed consumers during the previous two months.
The Commerce Department s report Tuesday showed that retail sales have retraced some of the record-setting month-to-month plunges of March (8.3%) and April (14.7%) as businesses have increasingly reopened. Still, the pandemic s damage to retail sales remains severe, with purchases still down 6.1% from a year ago.