Headlines US Retail Sales Post Record Spike in May, Fueling Hopes of Recovery The economy also added 2.5M jobs. Published 7 months ago on June 17, 2020 By INVISION Staff Share Tweet U.S. retail sales increased 17.7% in May compared to April for a record spike as businesses reopened following coronavirus lockdowns, according to just-released Commerce Department data. The growth followed record dips in March and April, The Associated Press reports. Overall buying in May was still 6.1 lower than it was in the same month a year prior. Sponsored Webinars Introducing Varilux® Comfort Max Lenses Webinars See Our Full Schedule of COVID-19 Webinars Webinars INVISION & Cleinman Present: The Re-Opening — Down & Dirty [Webinar Replay] The increase brought hopes that the economy may be starting to recover. It was accompanied by the addition of 2.5 million jobs. “While the big increase in retail sales in May is encouraging, there is still a huge amount of uncertainty about the strength of the rebound,” Gus Faucher, chief economist at PNC Financial Services, was quoted saying, adding that it could be afffected by “a lot of factors outside of the economics.” Some of the May rebound was probably due to the government’s infusion of money into the economy, including stimulus payments and expanded unemployment checks, the AP reports. In all, aid to families and companies totaled $3 trillion. Advertisement As many as 25,000 U.S. retail stores are likely to close their doors for good this year, compared to 9,000 last year, according to Coresight Research. Read more at the The Associated Press Related Topics:Latest News Topretail click to Comment(Comment) Up Next ECPs Weigh In On Their Favorite … and Least Favorite … Celebrity Specs Don't Miss Hilco Acquires Suppleyes INVISION Staff Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected]. Advertisement SPONSORED VIDEO SPONSORED BY TOPCON HEALTHCARE Perform Refraction from Anywhere with RDx Now more than ever, you need to grow your practice beyond your physical location and deliver quality eye exams from virtually anywhere. Topcon RDx® is an innovative ocular telehealth platform that allows you to connect to your office remotely and conduct comprehensive eye exams, without sacrificing the quality care you provide. You may like Ophthalmologist Convicted of Fraud Could Receive Pardon from Trump Pacific Vision Surgery Center Opens Doors to Bay Area Community 2020 Holiday Sales Grew 8% Despite Pandemic, NRF Reports Promoted Headlines Ray-Ban® Authentic Essilor Get More with Essilor Essilor 360° SUPPORT. 365 DAYS A YEAR. Essilor Advertisement Latest Trending Videos Headlines21 hours ago Ophthalmologist Convicted of Fraud Could Receive Pardon from Trump Press Releases21 hours ago Pacific Vision Surgery Center Opens Doors to Bay Area Community Press Releases23 hours ago 2020 Holiday Sales Grew 8% Despite Pandemic, NRF Reports Sponsored Content1 day ago Ray-Ban® Authentic Headlines3 days ago Eyecare Center Offers Free Laser Surgery for NFL Referee After Controversial Call America's Finest 2019 Entries2 weeks ago America’s Finest: Before You Start America's Finest 2019 Entries3 weeks ago America’s Finest: Get Your Contest Entry in Great Shape America's Finest 2019 Entries2 weeks ago America’s Finest: Basic Info and Stats America's Finest 2019 Entries2 weeks ago America’s Finest: You Gotta Stand Out from the Crowd America's Finest 2019 Entries2 weeks ago America’s Finest: Photos Really Are Worth at Least a Thousand Words Sponsored Content1 day ago Ray-Ban® Authentic Sponsored Content7 days ago Get More with Essilor Sponsored Content1 month ago Perform Refraction from Anywhere with RDx Headlines3 months ago Video: Florida Man Invents Robot to Place Contact Lenses Headlines3 months ago Video: Some Retailers Board Up Due to Election Unrest Fears Advertisement SubscribeBULLETINS Get the most important news and business ideas for eyecare professionals every weekday from INVISION. Advertisement Most Popular Photo Gallery1 week ago 12 Images That Show Why Zionsville Eyecare in Zionsville, IN, Was Named One of America’s Finest Optical Retailers Press Releases1 week ago EnChroma Names Vision Industry Veteran Erik Ritchie as CEO Headlines3 days ago Eyecare Center Offers Free Laser Surgery for NFL Referee After Controversial Call Headlines6 days ago Massachusetts ODs Win Right to Treat Glaucoma Sponsored Content7 days ago Get More with Essilor Columns6 days ago 2021 Is a New Year… Let’s Make Your Marketing New, Too! Press Releases1 week ago Eco Helps Trees for the Future Reach 200M Trees Sponsored Content1 week ago 360° SUPPORT. 365 DAYS A YEAR.