Retail and food sales rebounded a record-setting 17. 7% in May, helping to push up the Dow by 526 points for a third consecutive day of
gains. That said, the retail gains come off a record-setting plunge of 16. 4% in April“The May numbers followed two months of record declines, and overall sales were still down 8% from February. Some categories, like clothing, were down as much as 63% from a year
earlier. And many of the stores and restaurants that welcomed back customers last month did so with fewer employees, reflecting a permanently altered retail landscape and an ominous sign for the labor
market,” write Michael Corkery and Sapna Maheshwari for The New York Times.
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