US retail sales rose 0.9% in May as gas prices cooled
What's new: Online sales climbed 1.5%, while restaurant sales slipped 0.1% and tax refunds helped support spending.
US retail sales increased 0.9% in May from April, topping expectations as warmer weather and lower gasoline prices helped lift consumer spending, Commerce Department data showed Wednesday. April's gain was revised to 0.4%. Excluding gas stations, sales rose 0.7%. Online sales climbed 1.5%, furniture and home-furnishing sales rose 1%, and clothing sales increased 0.3%, while electronics and appliance sales fell 0.5%. Restaurant sales, the lone services category in the report, slipped 0.1%. Economists said generous tax refunds in April and May also supported shoppers, though that boost may be fading as inflation remains elevated and hiring stays subdued.