Retail, Food Service Sales Jump By Estimated 17.7 Pct In May

U.S. retail and food services sales rebounded in May from April amid the pandemic, but they were still under levels seen in May of 2019, according to the latest U.S. Census Bureau advance monthly sales numbers. The agency estimated advance monthly sales for May of $485.5 billion, which marked a 17.7 percent jump from April of this year but 6.1 percent under May of 2019.

Retail trade sales increased by an estimated 16.8 percent from April of this year but were still 1.4 percent below 2019’s levels. Nonstore retailers surged by an estimated 30.8 percent from May of last year, as garden equipment and building material and supplies dealers increased by an estimated 16.4 percent from 2019.

Wow! May retail sales show biggest one-month increase of ALL TIME, up 17.7%. Far bigger than projected. Looks like a BIG DAY FOR THE STOCK MARKET, AND JOBS!

— Donald J. Trump (@realDonaldTrump) June 16, 2020

Additionally, the bureau revised the March 2020 to April 2020 percent downward to down 14.7 percent from 16.4 percent.

In terms of the pandemic’s impact on the figures, the bureau wrote, “Due to recent events surrounding COVID-19, many businesses are operating on a limited capacity or have ceased operations completely. The Census Bureau has monitored response and data quality and determined estimates in this release meet publication standards.”

In May, U.S. Census Bureau data indicated that retail sales had dropped by a record 16.4 percent as a number of companies were operating with limited capacity or had completely halted operations amid the coronavirus health crisis.

Sales of clothing accessories and apparel had dropped by 78.8 percent from March 2020, as home furnishings retail sales had fallen 58.7 percent. Health and personal care stores fell 15.2 percent, as retail sales at electronics and appliance stores had dropped 60.6 percent.

Sales at food services and beverage businesses fell by 29.5 percent, as general merchandise store sales fell 20.8 percent. Sales at gasoline sales decreased by 28.8 percent, while sales at sporting goods, musical instrument, hobby and bookstores declined by 38 percent.

Gasoline station sales, on the other hand, fell by 28.8 percent, while motor vehicle and parts dealer sales fell by 12.4 percent.