The Commerce Department’s U.S. Census Bureau today released retail sales data for May 2010. Retail sales declined 1.2 percent. Retail sales have grown 6.4 percent overall this quarter, following an increase of 8.2 percent in the first quarter.
“Today's data reflects what we know to be true: uncertainty remains and there is work left to do to ensure long-term economic stability,” U.S. Commerce Secretary Gary Locke said. “Overall, consumer spending has increased modestly this quarter, and as Americans continue to cut down their debt, financial positions will improve. That will help spur future economic growth and help put people back to work.” Report
Source: U.S. Department of Commerce
