Retail Sales Rise More Than Expected, Signaling Consumer Resilience

American consumers continued to expand their spending at a broad array of retail outlets in May, largely undeterred by rising gasoline prices.

Retail sales jumped 0.9 percent in May, the Department of Commerce said Wednesday. Consumers increased their spending despite surveys suggesting distress. The University of Michigan’s survey of consumer sentiment hit an all-time low in May.

A big driver of the increase came from higher gasoline prices. Sales at gas stations rose 3.4 percent in May and are up 26.4 percent compared with a year ago. In May, gasoline prices rose above $4.50 a gallon, a big increase from the year-ago levels of below $3.50.

The…

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