Consumers showed their resilience yet again last month. U.S. retail sales growth jumped a better than expected 0.9% in May following a downwardly revised 0.4% advance in April. Higher goods and energy prices are definitely boosting the sales gains, but consumers in aggregate continue to meet the challenge and grow their real inflation-adjusted spending. The consensus forecast was expecting a solid 0.6% gain. Slower real disposable personal income growth and a declining saving rate have dented consumer confidence, but have not yet curtailed actual retail spending. Retail sales have risen at a sizzling annualized rate ... (full story)