Electronics Store Sales Up 2.8% in May, Says NRF; It Again Warns of Tariffs
May retail sales at electronics and appliance stores increased 2.8 percent year over year and 0.2 percent from April, said the National Retail Federation Thursday. Online and other non-store sales in May were up 9.1 percent year over year and…
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up 0.1 percent over April, said NRF. Overall May retail sales, excluding automobiles, gas stations and restaurants, increased 0.7 percent from April and 5.6 percent year over year “as a growing economy prompted consumers to continue to spend,” it said. “The economy is looking strong and households have a solid financial foundation on which to base their spending,” it said. Inflation and rising oil prices “are complicating the picture,” while new tariffs on Chinese imports or a trade war with China “would certainly be negatives that would increase prices and reduce both consumer purchasing power and consumer confidence,” it said.