U.S. Retail Sales Jump 1.2% In May

Sales at U.S. retailers climbed 1.2% in May and rose for the third month in a row, offering more evidence of springtime rebound in consumer spending after a winter lull. Economists polled by MarketWatch had forecast a seasonally adjusted 1.5% increase. Auto dealers and gasoline stations posted the strongest sales, but most major retail segments saw healthy gains. Excluding autos, sales rose 1%. Sales minus autos and gasoline climbed 0.7%, the Commerce Department said Thursday. What's more, sales in April and March were stronger than initially reported. Retail sales rose 0.2% in April instead of being unchanged. Sales in March were revised up to 1.5% from 1.1%.