Dive Summary:

• Retail sales totals for the U.S. were released Thursday, displaying a rise in revenues which beat some economists’ initial predictions.
• According to a source, lower costs to consumers for borrowing and gains in the job market were primary contributing factors in the retail sales boost.
• “The consumer seems to be faring very well,” said Brian Jones, senior U.S. economist in New York at Societe Generale, “the labor market is getting better. People realize that the employment situation has improved so they feel better and are probably willing to go out and spend money.”

From the article:

The 0.6 percent increase was the biggest in three months and followed a 0.1 percent gain in April, Commerce Department figures showed today in Washington. The median forecast of 83 economists surveyed by Bloomberg called for a 0.4 percent advance. The figures used to calculate economic growth, which exclude categories such as automobiles, climbed 0.3 percent.