The retail sales data, reported today by the Census Bureau, are based on surveys of about 5,500 retail businesses across the US, what they said their sales were. The measure is designed to track how well retailers are doing by retailer category, and we’ll get into those categories in a moment. Another measure tracks spending by consumers, based on surveys of consumers. It’s reported separately and comes in an inflation-adjusted version. But not today (here’s June’s “Real” Consumer Spending). Retail sales track sales of goods, not of services, and make up only a portion of what consumers spend their money … ( full story )
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