U.S. May retail sales far outpaced market expectations.
According to the U.S. Department of Commerce on the 17th, May U.S. retail sales rose 0.9% from the previous month to $763.9 billion (about 1,158 trillion won). They increased 6.9% from a year earlier.
The figure significantly exceeded the 0.5% consensus of experts compiled by Dow Jones.
Gas station sales led the index higher as gasoline prices rose amid the aftermath of the U.S.-Iran war. Gas station sales increased 3.4% from the previous month to $63.6 billion (about 96 trillion won). They were up 26.5% from a year earlier.
Online shopping (1.1%), autos and parts (1.2%), and apparel (0.3%) also performed well, helped by the U.S. government's tax refunds.
However, some expect the pace of consumption growth to slow as the impact of tax refunds gradually fades.