The Commerce Department reported Thursday that retail sales soared 1 percent last month, the biggest increase since November. A wide variety of retailers enjoyed a good month, including the biggest increase at department stores and other general merchandise stores in a year.
The May increase was double what economists had been expecting and indicated that the economy is getting a major boost from the $50 million in economic stimulus payments the government sent out in May, just under half of the total stimulus aimed at consumers.
[Associated
Press]
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