Retail sales grew 0.3 percent during May, its smallest month-to-month increase since harsh winter weather slammed consumer spending activity in January. But analysts were able to find some solace in upward revisions to April sales data that suggest a more favorable picture of the retail sector. The Census Bureau reported last week retail sales had grown 0.5 percent during April, well above the 0.1 percent gain that it had been previously reported. This left retail sales up 4.3 percent from a year earlier -- the third consecutive month in which the year-to-year comparable was above +4.0 percent (the first time that has happened since last summer).
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