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Retail Sales Increased 0.3% in May


On a monthly basis, retail sales were up 0.3% from April to May (seasonally adjusted), and sales were up 1.6 percent from May 2022.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for May 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $686.6 billion, up 0.3 percent from the previous month, and up 1.6 percent above May 2022. … The March 2023 to April 2023 percent change was unrevised at 0.4 percent.
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Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were up 0.6% in May.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 4.1% on a YoY basis.

The increase in sales in May was close to expectations, however sales in March and April were revised down.

Industrial Production Decreased 0.2% in May

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