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| Version 1 | Version 2 |
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| US consumers go on shopping spree | US consumers go on shopping spree |
| (about 14 hours later) | |
| US consumers have surprised analysts, as official figures revealed that retail sales grew 1.4% in May. | US consumers have surprised analysts, as official figures revealed that retail sales grew 1.4% in May. |
| Observers said that the increase, the highest in 16 months, suggested that high petrol prices may not be biting as hard as had been feared. | Observers said that the increase, the highest in 16 months, suggested that high petrol prices may not be biting as hard as had been feared. |
| The data, which also comes amid slumping house prices, buoyed market investors, with Wall Street shares offsetting some of Tuesday's losses. | The data, which also comes amid slumping house prices, buoyed market investors, with Wall Street shares offsetting some of Tuesday's losses. |
| Sales in April had fallen 0.1%, revised Commerce department data said. | Sales in April had fallen 0.1%, revised Commerce department data said. |
| Petrol price effect? | Petrol price effect? |
| "Is the consumer hurting because gasoline prices have soared?" asked Joel Naroff, of Naroff Economic Advisors. | "Is the consumer hurting because gasoline prices have soared?" asked Joel Naroff, of Naroff Economic Advisors. |
| "It surely doesn't look that way. Households spent money as if it was going out of style in May as retail sales skyrocketed." | "It surely doesn't look that way. Households spent money as if it was going out of style in May as retail sales skyrocketed." |
| The growth was well above the 0.6% which analysts had predicted. | The growth was well above the 0.6% which analysts had predicted. |
| And when vehicle sales were stripped out, retail sales rose 1.3%, again well ahead of analysts' estimates. | And when vehicle sales were stripped out, retail sales rose 1.3%, again well ahead of analysts' estimates. |
| Observers say that the data may add credence to Federal Reserve claims that the US economy will pick up in the second half of the year. | Observers say that the data may add credence to Federal Reserve claims that the US economy will pick up in the second half of the year. |
| Warm weather had bolstered the sales figures said Julian Jessop of Capital Economics, reflected in higher demand for clothes and sports goods. |