U.S. retail sales increased more than expected in May as consumers bought motor vehicle and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter.
The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest advance since November 2017. Data for April was revised up to show sales rising 0.4 percent instead of the previously reported 0.2 percent gain.
Economists polled by Reuters had forecast retail sales rising 0.4 percent in May. Retail sales in May increased 5.9 percent from a year ago.