The Commerce Department says the increase in retail sales is the result of a rebound in demand at auto dealerships and gas stations helped to offset continued weakness at department stores.
Sales increased by 0.5 percent last month, in line with economists' expectations. It was the largest increase since sales surged by 1.7 percent in January following six straight declines.
The May advance could be another signal that the worst of the recession is over. However, the all-important consumer sector is not expected to come roaring back, given all the troubles facing households as the country slogs through the worst recession in decades.
JOBLESS CLAIMS
The tally of newly laid-off Americans requesting jobless benefits fell for the third time in the past four weeks, fresh evidence that companies are cutting fewer jobs.
The Labor Department says initial claims for unemployment insurance dropped last week by 24,000 to a seasonally adjusted 601,000. That's below analysts' estimates of 615,000.
Continuing claims rose by 59,000 to 6.8 million, the highest on records dating to 1967. The department also revised last week's data, replacing what had been a drop of 15,000 with an increase of 6,000.
That means continuing claims have risen to record levels for 19 straight weeks.
http://accesswdun.com/article/2009/6/221034