Investing.com - U.S. retail sales rose more than expected in May, raising hopes for a rebound in consumer spending in Q2, according to data on Tuesday.
Retail sales rose 0.5% last month, the Commerce Department said, after surging 1.3% in April Economists had forecast a more modest 0.3% increase.
Core retail sales rose 0.4% last month after an upwardly revised 1.0% increase in April.
The upbeat retail sales report could see economists raising their second-quarter GDP growth estimates.