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Bev-enomics!

Beverly blogs about economics

Retail sales increase in May

Retail sales increase 1.4% in the month of May the largest increment in 16 months according to the Commerce Department.

Department sales were up in every category including gasoline, cars, electronic equipment, clothing and construction materials.

The number coming from the month of May were better than the ones expected by analyst. They were only expecting a modest 0.7% since gas prices should have brought down consumer spending in other sector of the economy.

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