Wednesday 23 October 2019 ,
Wednesday 23 October 2019 ,
Latest News
  • It's a responsibility for all to ensure road safety: PM
  • One-minute digital account service kicks off
  • Bhola SP’s Facebook ID hacked
  • Govts, Internet companies fail to meet challenges of online hate: UN expert
  • National Road Safety Day today
16 June, 2019 00:00 00 AM
Print

US retail sector posts healthy gains in May

AFP, Washington

American consumers spent freely on automobiles and electronics last month, giving the retail sector a boost even as worries mount that the US economy is slowing, government data showed on Friday. News of the upswing in spending came as the picture for April also changed for the better, suggesting retail sales were likely to support GDP growth in the second quarter.

Sales rose 0.5 per cent compared to April to $519 billion, according to the Commerce Department's latest estimate, putting them up 3.2 per cent above May of last year. The result was below forecasts but appeared smaller after April was revised upwards from a decline to a modest 0.3 percent increase.

"This confirms that the main engine of US growth is still humming along and certainly flies in the face of recession fears," Oxford Economics said in an analytical note. "Looking ahead, buoyant consumer confidence, healthy job creation, tame inflation, lower gas prices, and solid wage growth should support robust household outlays in coming months."

Sales of autos and parts rose a healthy 0.7 per cent, reversing a sharp drop in April. Excluding sales of motor vehicles and parts, retail sales also rose 0.5 per cent.

Comments

Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
0102030405
06070809101112
13141516171819
20212223242526
2728293031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting