A shopkeeper hangs beads in his retail store as the phase one reopening of New York City continues during the outbreak of the coronavirus disease (COVID-19) in the Brooklyn borough of New York City, New York, U.S. June 9, 2020. REUTERS/Shannon Stapleton
US retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
The monthly report, due to be released by the Commerce Department on Tuesday, is expected to show overall receipts at U.S. retailers jumped 8.0% last month, according to a Reuters poll of economists. That would exceed the previous record increase of 6.7% in October 2001 as Americans resumed spending following what was then a record pullback in the aftermath of the September 11, 2001, attacks on the United States.
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