NEW YORK, June 12 (UPI) -- Retail sales perked up in May after a drop the previous month, the Commerce Department said Thursday, but doubt remained about the long-haul.
Sales rose 0.1 percent after a revised 0.3 percent decline in April, an increase that was slightly better than economists' predictions.
The Wall Street Journal said economists had eagerly awaited the retail sales report as the first comprehensive indicator of consumer spending unaffected by the war in Iraq or the time leading up to the war. While the data showed signs of life, the numbers provided little evidence of a sustained pickup, observers said.
Sales increased in several categories, and overall growth was restrained by a sizable 4.3 percent drop in sales at gasoline stations, reflecting lower prices at the pump. When gasoline-station sales are removed, retail sales rose a solid 0.4 percent in May.
Auto sales, another volatile component, dipped 0.2 percent.
