Tuesday 16 July 2019 ,
Tuesday 16 July 2019 ,
Latest News
  • Ecnec clears 8 projects involving Tk 5,142 cr
  • Ershad’s 4th namaz-e-janaza held in Rangpur
  • HSC, equivalent results tomorrow
  • Ensure paddy procurement directly from farmers: Minister
  • Flood situation turns worse in five districts
  • Supply of sacrificial animals adequate: Number of cattle goes down by 1.5 lakh from last year
  • Rohingya crisis: ICC team in city
  • Rifat's wife Minni interrogated
  • ‘Drug trader’ killed in Rajshahi ‘gunfight’
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

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 48.8%
No 47.2%
No Comment 4.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
010203040506
07080910111213
14151617181920
21222324252627
28293031

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