Retail Sales
Retail Sales measures the total receipts at stores that sell merchandise and related services to final consumers. It is measured in nominal terms (not adjusted for inflation) and includes both cash and credit sales, but excludes sales ta…
At A Glance#
| Field | Detail |
|---|---|
| Provider | U.S. Census Bureau |
| Survey / Tool | Advance Monthly Retail Trade Survey (MARTS) |
| Frequency | Monthly |
| Indicator Type | Coincident |
| Main Use | Measures the total dollar receipts at retail and food service stores — a direct pulse on consumer demand for finished goods |
| Timeframe Tracked | Short to Medium-Term (1–6 months) |
| Source | https://www.census.gov/retail |
What It Is#
Retail Sales measures the total receipts at stores that sell merchandise and related services to final consumers. It is measured in nominal terms (not adjusted for inflation) and includes both cash and credit sales, but excludes sales taxes.
It is released as the "Advance" estimate — an early, quick read on consumer demand and GDP momentum, before the full Monthly Retail Trade Survey data are finalised.
Who Provides It#
The U.S. Census Bureau, via the Advance Monthly Retail Trade Survey (MARTS).
How It Is Collected#
- Census collects data from approximately 4,800 employer firms in the retail and food services sectors, selected from the larger Monthly Retail Trade Survey sample.
- Firms report the dollar value of sales, reporting period, and number of retail establishments.
- Data are collected by internet or telephone and cover activity during the calendar month.
How It Is Computed#
Retail sales are estimated by kind of business, based on NAICS industry classifications. The link-relative estimator method is used: Census compares current-month sales with previous-month sales among responding firms, then applies that ratio to the previous month's estimate. Broader totals are obtained by summing detailed industry estimates. Data are also seasonally adjusted.
Broad NAICS categories covered:
- Motor vehicle and parts dealers
- Furniture and home furnishing stores
- Electronics and appliance stores
- Building material and garden equipment stores
- Food and beverage stores
- Health and personal care stores
- Gasoline stations
- Clothing stores
- Sporting goods, hobby, book and music stores
- General merchandise stores
- Nonstore retailers
- Food services and drinking places
Indicator Type#
Coincident. Retail Sales measures consumer spending that has already happened during the reference month. However, because it is released quickly (typically ~2 weeks after month-end), it provides an early read on current consumer demand and GDP momentum before most other spending data are available.
Why It Matters#
Because consumer spending drives roughly 70% of U.S. GDP, Retail Sales is one of the most market-moving monthly releases. A strong print signals healthy consumer demand; a weak or declining print raises concerns about economic slowdown. It feeds directly into BEA's GDP estimates.
For a cleaner read on underlying consumer habits that strips out volatile auto purchases, see Retail Sales ex Auto.
Related Notes#
- Retail Sales ex Auto — same survey, motor vehicles removed for a smoother trend read
- Personal Spending — broader measure that includes services; feeds GDP directly