- Retail sales rebounded in May, increasing 1.35% over the previous month and 3% year-over-year, according to the National Retail Federation. Total sales were up 2.13% year-over-year for the first five months of the year.
- May sales were up in five out of nine retail categories tracked by the group’s CNBC/NRF Retail Monitor. The leading categories of growth were online and non-store sales (up 17.9% year-over-year), health and personal care stores (up 6.86% year-over-year) and clothing and accessories stores (up 6.24% year-over-year).
- The Retail Monitor sales data for May marks a turnaround from April, when month-over-month sales increased only 0.4% and year-over-year sales decreased 0.6%. May’s month-over-month gains were the highest since April 2023.
“Consumers have clearly retained their ability to spend and are driving solid economic growth,” NRF President and CEO Matthew Shay said, in a statement. “May’s year-over-year gains are in line with what we saw earlier this year, and the month-over-month increases are the largest in more than a year. We believe this underscores that April’s moderation was an outlier.”
The Retail Monitor data excludes sales of automobiles and gasoline. The Monitor also charts core retail sales, which also excludes restaurants in addition to autos and gas). Core sales were up 1.2% month-over-month in May and 2.88% year-over-year (compared to an increase of 0.4% month-over-month and a decrease of 0.05% year-over-year in April).
As mentioned, sales were up in five out of nine retail categories on a yearly basis. They were also up in all but three categories on a monthly basis. (All monthly results are seasonally adjusted, while yearly results are unadjusted.)
- Online and other non-store sales: up 2.09% month-over-month and up 17.91% year-over-year.
- Health and personal care stores” 1.29% month-over-month up 6.86% year-over-year.
- Clothing and accessories stores” up 1.44% month-over-month and up 6.24% year-over-year.
- General merchandise stores: up 1.31% month-over-month and up 4.89% year-over-year.
- Grocery and beverage stores: up 1.97% month-over-month and up 2.53% year-over-year.
- Building and garden supply stores”: down 0.6% month-over-month and down 0.53% year-over-year.
- Sporting goods, hobby, music and bookstores: up 1.04% month-over-month but down 0.71% year-over-year.
- Electronics and appliance stores: down 0.05% month-over-month and down 0.87% year-over-year unadjusted.
- Furniture and home furnishings stores: down 0.14% month-over-month and down 3.21% year-over-year.
