U.S. retail sales rose in May

COLUMBIA, S.C. (CNN)—One new report shows consumers don’t seem ready to slow their spending — despite high interest rates and economic concerns.

A Commerce Department report shows retail sales were up .3%  last month. Refinitiv says economists had predicted a decline.

The number includes physical stores, online retailers and restaurants — with numbers adjusted for seasonality but not inflation with increases in all categories except gas stations and miscellaneous stores.

Many economists predict spending will slow eventually.

They note the days of pandemic relief and cheap credit are in the past  and the student loan payment pause is winding down.