Here come retail sales ...

IKEA checkoutREUTERS / Shannon StapletonAre people finally boosting their spending?

The May report on retail sales in the US set for release at 8:30 am ET.

Expectations are for the report to show sales grew 1.2% in May, up from a flat reading in April.

Excluding gas and car sales, retail sales are expected to rise 0.5% in May.

In a note to clients ahead of the report, Joe LaVorgna at Deutsche Bank — who expects sales will rise 0.9% in May — wrote that the increase in auto sales and the elevated consumer confidence readings indicate that Americans appear ready to boost spending again.

We’ll be back with the live numbers when they hit.

NOW WATCH: Here’s how Floyd Mayweather spends his millions

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.