US retail sales rose in May

Spending at US retailers rose last month, in a sign that consumers are still fueling the economy.

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Retail sales at stores, online and in restaurants grew 0.3% in May from April, the Commerce Department reported on Thursday. That’s above economists’ expectations of a 0.1% decline, according to Refinitiv.

The report reflects resilient consumer spending despite rapid interest-rate hikes and lingering economic uncertainty.

Retail sales data is adjusted for seasonality but not for inflation.

This story is developing and will be updated.

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