From the course: Economic Indicators

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Retail sales

Retail sales

From the course: Economic Indicators

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Retail sales

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- In the United States retail sales, the stuff people buy from stores and online, are very important because the U.S. economy is driven largely by the consumption of its population. Some economies like China are more focused on manufacturing while others like Saudi Arabia or Nigeria have commodity centric economies. But in the United States it's our consumption that defines our economy. And the most important monthly report about that consumption is the U.S. Advance Retail Sales Report. When Bloomberg or the Wall Street Journal write about it, they just call it retail sales. Economists and analysts use this report to analyze market trends and determine the direction of the economy. Businesses use this report to measure how they're performing and to predict future demand for their products. Each monthly report includes motor vehicle and part sales, gasoline station sales, food and beverage store sales as well as furniture, electronics and all other kinds of sales. The two big numbers…

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