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U.S. retail sales rose 7.5% in June, after a revised record 18.2% jump in May, the Commerce Department said Thursday.

Why it matters: Consumer spending accounts for roughly 70% of U.S. economic activity, and June's retail sales nearly reached February's pre-pandemic levels, driven by spending at car dealerships, clothing and furniture stores. But economists warn it may have since slowed as states began to reimpose lockdowns amid surging coronavirus caseloads.

Retail sales jumped 7.5% in June

Economists warn it may have since slowed as states reimpose lockdowns.

Shoppers wearing facemasks walk near a sign informing customers that face coverings are required in front of a Walmart store in Washington, DC 

Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Business

Retail

U.S. retail sales rose 7.5% in June, after a revised record 18.2% jump in May, the Commerce Department <a class="gtmContentClick" data-vars-link-text="said" data-vars-click-url="https://www.census.gov/retail/marts/www/marts_current.pdf" data-vars-content-id="faf0f914-77fd-4405-9b26-2c3a38e596cd" data-vars-headline="Retail sales jumped 7.5% in June" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.census.gov/retail/marts/www/marts_current.pdf" target="_blank">said</a> Thursday.Why it matters: Consumer spending accounts for roughly 70% of U.S. economic activity, and June&#x27;s retail sales nearly reached February&#x27;s pre-pandemic levels, driven by spending at car dealerships, clothing and furniture stores. But economists warn it may have since slowed as states began to reimpose lockdowns amid surging coronavirus caseloads.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Retail sales jumped 7.5% in June

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