two consecutive months of record slumpsThe sharp rebound is a positive sign that the US economy may be on pace for a V-shaped recovery. Stock futures extended gains on the release.US retail sales surged a record amount in May as consumers returned to shopping following the darkest depths of the coronavirus pandemic.. The figure came in more than double the 8.4% increase expected by economists surveyed by Bloomberg.
The sharp reversal comes after two consecutive months of record declines in March and April, as the US economy grappled with widespread shutdowns spurred by coronavirus. The sharp rebound offers a positive sign that the US economy may be on pace for aAll categories of sales posted gains in May, with the largest gain of 188% in clothing and clothing accessories stores followed by an 88% jump in sporting goods, hobby, musical instrument, and book stores.
Despite the rebound, total spending remains 6.1% below pre-coronavirus levels on a year-over-year basis.
GreatNews Retail Sales👇 How many time's u have seen in 3M👉Future jump👉On vaccine COVID19 Retail Sales jump(Exp vs Actual)👉Who did such a horrible estimates ? Second wave👉disappeared suddenly in 3 day's time MEDIA playing All the stories Investor u r taken for a ride🤠
So if you were down 80%, which means 20% left. So 17.7% on the 20% is how much? 4% of the pre-virus time?
A 17.7% jump from Great Depression era lows only it brings it up to Great Recession levels.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
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