A strong rebound in retail sales is reassuring, but the economy’s future is still uncertain. Spencerjakab explains. WSJWhatsNow
The big hole in consumer spending is still there, but it isn’t quite so deep anymore.
The Commerce Department on Tuesday reported that U.S. retail sales rose 17.7% in May from a month earlier, stronger than economists expected and undoing April’s 14.7% decline. The rebound comes as measures to counteract the novel coronavirus were relaxed, businesses came up with ways to adapt to the pandemic, and most Americans received stimulus payments.
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