Gas Drives May Retail Sales Up

U.S. retail sales rose during May, posting the third increase in five months. Unfortunately,  much of the gain is attributable to higher prices in gas stations. Still, if the higher prices at the pumps didn’t keep people from driving, that’s got to be something of a good sign, right?

Total retail sales rose by 0.5 per cent in May. It seems that the steep decline in consumer spending we saw following the summer of 2008 is finally over. Consumer spending seem to have stabilised at a low level.  The real question is how long we’ll sit at this low level before sales start to rise once again.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.