Retail sales also increased by 4 percent year-over-year on a three-month moving average.
The NRF also found that sales were 5.3 percent above the year-ago level on an adjusted basis and increased 4 percent on a three-month moving average year-over-year.
“While the month-to-month comparisons may be unimpressive, current trends in retail sales growth are healthy,” says Jack Kleinhenz, chief economist, NRF. “The lack of retail pricing power continues to be a benefit to consumers but an ongoing challenge for retailers.”
Furthermore, performance in May was similar across retail segments; however, the electronics sector reported the biggest losses. On a year-over-year basis, building materials and furnishings saw the greatest growth, followed by online and other non-store sales.
Other highlights include: online and other non-store sales increased 0.8 percent over April and increased
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