US May retail sales turnover from the previous month after a direct hit from Corona Maximum growth June 17 5:26
Retail sales in the U.S. last month, when economic activity began to resume, increased 17.7% compared to the previous month, reversing from the previous month when the impact of the new coronavirus hit, the largest increase since the start of statistics Was recorded.
Last month, the US Department of Commerce announced retail sales of $485.5 billion, up 17.7% from the previous month.
This is a form in which the impact of the new coronavirus hit directly and reversed from the month before the worst drop after 1992 when the statistics started, and this time the maximum growth was recorded.
Among them, automobiles and related parts increased by 44%, clothing increased nearly threefold, and some states were gradually opening restrictions and reopening their stores. .
On this result, President Trump said on Twitter, "It's a much higher number than expected. It's a great day for stock markets and employment."
On the other hand, the industrial production index, which showed the production activity of companies, announced on the same day, was 1.4% higher than the previous month, although it turned positive, but it was below the market forecast.
While economic activity has resumed in the United States, there has been concern over the second wave of infections recently, and there are variations in economic indicators.
FRB Chair “Time and Strength of Recovery Remains Uncertain Significant”
After the release of economic indicators showing the US economy, Fed Chairman Powell of the Federal Reserve Board said in a hearing in the Senate, “The recent economic indicators show a gradual recovery trend in some regions. Production and employment are well below pre-pandemic levels, leaving considerable uncertainty about the timing and strength of the recovery. There is no full economic recovery until we can believe it," he once again showed a cautious stance on the economic outlook.