U.S. economy starts long recovery as retail sales post record jump

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 surge in retail sales last month recouped 63% of March and April's decreases. Federal Reserve Chair Jerome Powell told U.S. lawmakers on Tuesday that "until the public is confident that the disease is contained, a full recovery is unlikely."

from Yahoo News - Latest News & Headlines https://ift.tt/2YStkx5