Thursday, June 12, 2008
 

WASHINGTON (AP) - The government says May retail sales posted
the biggest increase in six months. The surge came as economic
stimulus payments helped offset strong headwinds, including rising
gasoline prices.
 

The Commerce Department reports retail sales jumped 1 percent
last month. Department stores and other general merchandise stores
had the best showing in a year.
 

The May increase was double what economists expected, indicating
that the economy is getting a major boost from the 50 million
dollars in economic stimulus payments the government sent out in
May.
 

In another report, the Commerce Department says business
inventories grew by half a percent in April, more than double the
rise in March and the best showing since January.
 

Also, the Labor Department said new applications for jobless
benefits rose by 25,000 last week to 384,000.

(Copyright 2008 by The Associated Press.  All Rights Reserved.)