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Retail sales in the US recover in May at a record rate of 17.7%

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The retail sales in the United States they shot up in May at a record rate of 17.7% after plummeting in April by 14.7%, in what was the biggest drop in their history (although the data has been revised upwards since an initial drop of 16, 4%.

Excluding AutomobilesRetail sales in the world's leading economy rebounded by 12.4%, well above the expected 5.5% rise and 15.2% decline recorded in April. The sales of the Control Group, which directly affect the calculation of GDP, have recovered 11% and have far exceeded the forecast of 4.7%, after the decrease of 12.4% in April.

"The reopening of the economy and the payments of government transfers citizens under the CARES Act fueled a stronger pickup in retail sales than most expected, "analysts at Berenberg say, referring to the $ 1,200 checks that the American Administration has paid to families with less income.

Strong rebound in retail sales in May "bodes well" for retail job creation during the summer, after a relatively small rebound in May, these experts add. The American economy recorded an increase of 368,000 retail jobs in May, after a cumulative decline of 2.4 million in March and April.

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