Source: U.S. Census Bureau
American retail and food services sales posted a 1.3% month-on-month drop in May to hit the lowest level in three months.
- Advance estimates fell to $620.2 billion, the lowest since February’s $559.9 billion.
- The latest reading compares with $628.6 billion in April and $483.9 billion in May 2020.
- Total sales from March to May increased 36.2%, versus the 0.9% increase recorded in March to April.
- Retail trade sales fell 1.7% month-on-month, but climbed 24.4% year-on-year.
- Clothing and clothing accessories surged 200.3% year-on-year.
- Food services and drinking places slipped 70.6% year-on-year.
- The Monthly Retail Trade Survey was sent out to some 5,500 employer firms benchmarked to represent over 3 million retail and food services firms.