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The numbers: Sales at U.S. retailers roared back in May as the economy started to reopen following record declines in the prior two months triggered by the coronavirus.
Retail sales jumped by 17.7% last month, the government said Tuesday. Economists polled by MarketWatch had forecast an 8.5% increase.
Sales had tumbled a revised 14.7% in April .
Yet even after the rebound in May, sales were still 6% lower compared to the same month in 2019.
What happened: Sales leaped 44% at auto dealers to give a bright gloss to the retail report. The auto sector typically generates about one-fifth of all retail spending.
Sales excluding autos rose 12.4%, also a record.
Sales also leaped 188% at clothing stores, 90% at home-furnishing stores and 88% at stores that sell books, music, sporting goods and other hobby items.
Receipts also increased 29% at bars and restaurants that bore the brunt of the coronvirus lockdowns in March and April. Internet retailers posted a 9% increase in sales.
Read: Consumer sentiment climbs again in June as reopening U.S. economy eases worries
See: MarketWatch Economic Calendar
Big picture: The economy in May began to claw its way out of what’s likely to have been the shortest and deepest recession in history, but the damage was so great that it could take awhile for the U.S. to return to normal. Further outbreaks of the coronavirus, new safety rules and widespread social distancing will change how Americans live and work for the immediate future.
The pace of the recovery ultimately could depend on how quickly a cure or treatment for the virus is found.
Read: U.S. entered recession in February after end of longest expansion in history
Market reaction: The Dow Jones Industrial Average DJIA, +0.61% and S&P 500 SPX, +0.83% were set to open higher in Tuesday trades on news the Trump administration is considering another trillion-dollar bill to aid the economy during the coronavirus crisis.
