NRF: May Retail Sales Up 4.7%

June 13, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on June 2007 Consumers spent 4.7 percent more among the nation’s retailers in May compared to the same month last year, and 1.1 percent seasonally adjusted, from April according to figures released Wednesday by the National Retail Federation.

Furniture and home furnishing stores sales, though, rose a subdued 0.3 percent seasonally adjusted and 2.9 percent unadjusted over last year. The effect of the weak housing market also dampened building material stores sales, which rose 2.1 percent seasonally adjusted from last month, but decreased 0.7 percent unadjusted over last year.

May retail sales released Wednesday by the U.S. Department of Commerce show that total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 1.4 percent seasonally adjusted from last month and a solid 5.4  percent unadjusted year-over-year.

“After a lackluster April, consumer spending rebounded nicely in May,” said NRF Chief Economist Roz Wells. “With retail sales increasing, the economy is getting a much-needed boost.”

Industry sales in most sectors saw strong gains. Clothing and clothing accessories stores sales saw a 2.7 percent increase seasonally adjusted over April, and a strong 9.1 percent increase unadjusted year-over-year. Health and personal-care stores sales rose 0.8 percent seasonally adjusted from April and 6.5 percent unadjusted over last year.