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A report released by the Commerce Department on Friday showed U.S. retail sales rose by slightly less than expected in the month of May, although the report also showed a substantial upward revision to the retail sales data for April.

The Commerce Department said retail sales climbed by 0.5 percent in May after rising by an upwardly revised 0.3 percent in April.

Economists had expected retail sales to increase by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.

Excluding a rebound in sales by motor vehicle and parts dealers, retail sales still rose by 0.5 percent in May, matching the upwardly revised increase in April.

Ex-auto sales had been expected to rise by 0.3 percent compared to the 0.1 percent uptick originally reported for the previous month.