May\'s blockbuster retail sales report overshadowed shifting consumer trends that could widen inequality in the US

May's blockbuster retail sales report overshadowed shifting consumer trends that could widen inequality in the US

Business Insider Wednesday, 17 June 2020 ()
May's blockbuster retail sales report overshadowed shifting consumer trends that could widen inequality in the US· US retail sales surged a record 17.7% in May, double economist estimates, following two consecutive months of record slumps.
· But, there are also signs of shifting consumer trends in the US that could widen the inequality gap. 
· "Consumer spending is always skewed toward higher income groups," wrote Samuel Coffin of UBS...
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Video credit: The Street - Published
News video: Stocks Soar on Wipe-Out Retail Sales Data

Stocks Soar on Wipe-Out Retail Sales Data 01:04

 Retail sales for the month of May came in at 17.7%, beating economists estimates of 8%.