US retail sales rose 0.3 percent in May
Source: AP-EXCITE
By MARTIN CRUTSINGER
WASHINGTON (AP) — U.S. retail sales rose modestly in May as consumers turned cautious in their spending. But the weaker-than-expected result is unlikely to derail stronger overall in the second quarter.
Retail sales rose 0.3 percent in May, helped by a jump in demand for autos, the Commerce Department said Thursday. The result follows a 0.5 percent climb in April, which was revised up from an initial estimate of 0.1 percent. March sales surged 1.5 percent — the biggest one-month gain in four years.
Analysts said any disappointment in May was offset by the change in April's figure.
"May retail sales fell short of estimates, although upward revisions to April make it about a wash versus consensus forecasts," said Jay Feldman, director of U.S. Economics Research at Credit Suisse.
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In this June 5, 2014 photo, Chelsea Vick shops for clothes at Wal-Mart Supercenter in Rogers, Ark. The Commerce Department releases retail sales data for May on Thursday, June 12, 2014. (AP Photo/Sarah Bentham)
