RETAIL SALES ON THE RISE ACCORDING TO NRF |
![]() |
Sunday, 13 June 2004 08:00 PM America/New_York |
May retail sales in the GAFS category-general merchandise stores, clothing and clothing accessories stores, furniture and home furnishings stores, electronics and appliances stores and sporting goods, hobby, book and music stores-rose 5.9% over last year and increased 0.8% adjusted over April despite the rising cost of gasoline, according to the National Retail Federation (NRF). GAFS sales rose 10% in the first quarter and have risen 7.5% to date in the second quarter. “As the economy continues to pick up steam, retailers are reaping the benefits,” said Rosalind Wells, NRF chief economist. “The job market has long been the missing piece of the economic puzzle. With recent good news regarding job creation, all the pieces have fallen into place.”
May retail sales released today by the U.S. Commerce Department show that total retail sales increased 1.2% seasonally adjusted for the month and rose 6.1% unadjusted year-over-year.
|