Following historic declines in March and April, U.S. retail sales soared a record-breaking 17.7% in May as post-lockdown reopening efforts accelerated around the country, allowing stores to open and consumers to resume in-person shopping.

The retail data from the U.S. Commerce Department came as homebuilder sentiment experienced its largest-ever monthly increase and as scientists hailed a major breakthrough in treating critically ill COVID-19 patients.

There were also reports that President Donald Trump’s administration is preparing a new $1 trillion economic stimulus package that will focus on infrastructure to help propel the American economy out of the depths of the coronavirus-instigated recession.

After dropping 8.3% in March and 14.7% in April, month-over-month retail sales skyrocketed 17.7% in May. Sales are still down 8% overall since February and 6% from May 2019, but the return to growth was welcomed by stock markets, which traded up on Tuesday, June 16.

According to the data, sales at U.S. clothing stores in May almost tripled over April. Sales at furniture stores soared 90% month over moth, while business at sporting goods stores, musical instrument stores and bookstores was up 88%. Retailers in the electronics and appliance fields saw their sales climb 51%. Even restaurants and bars, among those hardest hit by economic fallout from coronavirus lockdowns, experienced a 29% monthly sales increase in May. Online sales jumped 9%.

Elsewhere, a study out of the United Kingdom has shown that dexamethasone, an inexpensive and commonly used steroid, can reduce death rates by about a third among the most critically ill COVID-19 patients. The drug is typically used to reduce inflammation in other diseases. Scientist Peter Horby, who co-led the trial study, called the news a “major breakthrough” in the fight against the pandemic.

⚠️Breaking: new trial find first drug to reduce #COVID19 mortality- For patients on ventilators the anti-inflammatory dexamethasone cut death risk from 40% to 28%. For patients on O2, death risk cut from 25% to 20%. Modest, but best of all: costs <$10! 🧵 https://t.co/9mOpLMVVKI

— Eric Feigl-Ding (@DrEricDing) June 16, 2020

Meanwhile, the National Association of Home Builders/Wells Fargo Housing Market Index leapt nearly 30 points to 58 in May over April, reflecting vastly improved optimism among homebuilders. Any reading above 50 indicates a positive market. In April, the index had plunged a record 42 points to 30.

“A faster-than-expected turnaround in homebuyer demand, following a sharp drop-off at the start of the coronavirus pandemic, has the nation’s homebuilders bullish on their business again,” CNBC reported.

The Trump administration wasn’t commenting on the potential $1 trillion infrastructure plan, but reports indicate it’s in the works with the U.S. Department of Transportation taking the lead. The plan could pump money into projects aimed at improving roads and bridges, as well as 5G wireless infrastructure and broadband in rural areas.

Despite the positive developments, Federal Reserve Chairman Jerome Powell urged caution on Tuesday, June 16, saying there remains much uncertainty ahead on the U.S. economic recovery.

“The levels of output and employment remain far below their pre-pandemic levels, and significant uncertainty remains about the timing and strength of the recovery,” he said. “Much of that economic uncertainty comes from uncertainty about the path of the disease and the effects of measures to contain it. Until the public is confident that the disease is contained, a full recovery is unlikely.”