Retail Sales · Advance Monthly Retail Sales
Definition
The Census Bureau’s advance estimate of receipts at retail and food-service stores, the first broad look at consumer spending for the prior month.
Why investors care
Consumer spending is roughly 70% of GDP, so retail sales gauge the economy’s main engine and feed directly into GDP nowcasts.
What to watch
Trade the “control group” (ex-autos, gas, building materials, food services) — it maps cleanly into the GDP consumption math.