New York City -- Luxury, high-end jewelry and e-commerce enjoyed strong growth in May, as did the restaurant category, according to MasterCard Advisors SpendingPulse, which tracks national retail and services sales. Apparel also continued to show gains, the report found, while housing-related sectors such as furniture, electronics and appliances all saw sales decline compared with the same period in 2010.
“Because the late Easter holiday boosted April’s year-over-year comparisons in some sectors, the May growth rates can look flattened by comparison, especially in apparel, luxury, and groceries where the growth rates were only about half what they were in April,” said Michael McNamara, VP research and analysis for MasterCard Advisors SpendingPulse.
At the same time, McNamara added, jewelry had its best year/year rate in 2011, and unlike the mixed results in April, every sub-category of restaurants showed year-over-year growth in May.”
Here are some other findings from the latest MasterCard Advisors SpendingPulse report: