U.S. retail sales bounced back in their biggest month-to-month jump ever on record in May, as COVID-19 lockdowns ended and consumers went out to spend money again. Retail sales rose by 17.7 per cent in May, more than twice what economists were expecting, the U.S. Department of Commerce said Tuesday. Motor vehicle sales jumped 44.1 per cent, building materials were up 10.9 per cent, non-store sales rose nine per cent, and restaurant receipts surged 29.1 per cent. Still, the pandemic's damage to retail sales remains severe, with purchases still down 6.1 per cent from a year ago and almost eight per cent below where they were in February. "The retail sector was already over-stored before COVID reared its ugly head," said Craig Johnson, president of Customer Growth Partners, a retail consultancy.

Source: CBC News June 16, 2020 16:41 UTC