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US retail sales surge in May; weekly jobless claims fall

Updated : June 15, 2018 06:24 AM IST

Other data on Thursday showed a further tightening in labor market conditions, with first-time applications for unemployment benefits unexpectedly falling last week and the number of Americans on jobless rolls declining to a near 44-1/2-year low.
The Commerce Department said retail sales jumped 0.8 percent last month, the biggest advance since November 2017. Data for April was revised up to show sales rising 0.4 percent instead of the previously reported 0.2 percent gain.
US retail sales surge in May; weekly jobless claims fall
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