SAM900 G5 and PAT104 US Army C-560 west from JBA
SAM884 USAF C-40B also nw from JBA
VM374 USMC C-560 ne and SAM868 USAF Gf sw from JBA
MAGMA88 Dornier C-146A departed San Juan, PR nw
NATO01 and 02 E-3 Sentry AWACS from Geilenkirchen AB in northern Germany and Poland
U.S. retail sales post record increase; big hole remains
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end. The report from the Commerce Department on Tuesday followed news early this month that the economy created 2.5 million jobs in May. Layoffs are also ebbing and manufacturing activity is improving, though production remains at very low levels.
Still, the record jump in retail sales recouped only a fraction of March and April’s decreases, leaving consumer spending and the economy on track for their biggest contraction in the second quarter since the Great Depression. The economy slipped into recession in February. Retail sales jumped 17.7% last month, the biggest advance since the government started tracking the series in 1992. Data for April was revised to show a record 14.7% drop in sales instead of the previously reported 16.2%. Economists polled by Reuters had forecast retail sales would rise 8% in May. Retail sales fell 6.1% on a year-on-year basis in May.
Even with May’s surge, sales were still about 8% below their February level. The reopening of nonessential businesses last month after being shuttered in mid-March to slow the spread of COVID-19, the respiratory illness caused by the novel coronavirus, has seen Americans flocking to car dealerships and spending more on gasoline, apparel and at restaurants. Receipts at auto dealerships accelerated 44.1% last month after declining 12.3% in April. Sales at building material stores rose 10.9%. Receipts at service stations increased 12.8%. Sales at electronics and appliance stores soared 50.5%.
Receipts at clothing stores rebounded 188% last month. Sales at furniture stores soared 89.7%. Receipts at restaurants and bars advanced 29.1%. Spending at hobby, musical instrument and book stores vaulted 88.2%. All these categories had suffered record declines in sales in March and April. Online and mail-order retail sales rose 9.0%.
U.S. stock index futures extended gains after the release of the report. The dollar .DXY slipped against a basket of currencies. Prices of U.S. Treasuries fell.
https://www.reuters.com/article/us-usa-economy/u-s-retail-sales-post-record-increase-big-hole-remains-idUSKBN23N0LE