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July 20, 2011

May retail sales up 2%

By The Mainebiz News Staff

Retail sales grew more than 2% in May, fueled by a double-digit increase in business operating sales.

Total taxable retail sales in May were $1.36 billion, a 2.2% increase over May 2010, according to the Maine State Planning Office. Business operating sales, which were mostly out-of-state purchases by Maine businesses, grew nearly $17 million, or 12%, over the same month last year. Auto and transportation sales also grew 5.4% and building supply sales ticked up 3%, a rise the SPO attributed more to May 2010's sharp decline following the expiration of the federal homebuyer tax credits.

For the last three months, March through May, retail sales are 0.8% higher than the same period one year ago.

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