US Retail sales grow 0.5% in May

Retail sales in the United States grew by 0.5% in May to $455.6 billion, according to the US Census Bureau advance estimate.

The reading beat expectations of a modest 0.3% advance. Comparing with a year earlier, sales rose by 2.5%.

Retail sales excluding the auto sector rose by 0.4% in May, in line with market expectations.