US Retail Industry shows increase in May

According to the National Retail Federation (NRF), retail industry sales in the US for the month of May rose by 4.7%

Industry sales in most of the sectors accounted strong gains with clothing and clothing accessories store sales registering a 9.1% increase unadjusted year-over-year.

According to Chief Economist Roz Wells, consumer spending recovered nicely in May. "With retail sales increasing, the economy is getting a much-needed boost." she said