Retail sales jump by largest amount in 6 months

[June 12, 2008]  WASHINGTON (AP) -- Retail sales jumped by the largest amount in six months in May as 57 million economic stimulus payments helped offset the headwinds buffeting consumers.

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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