Shoppers increased their spending in May as temperatures warmed and gasoline prices cooled

Shoppers stepped up their spending in May, surpassing economists’ expectations, as temperatures warmed and gasoline prices cooled.

Shoppers increased their spending in May as temperatures warmed and gasoline prices cooled

American shoppers spent more in May than anticipated. This boost came from tax refunds and a stock market rise. However, this spending has reduced savings. Higher gas prices also…