retail sales - Investment & Finance Definition
A monthly economic indicator that measures the level of all retail sales in the United States. The data is collected and released during the second week of the month for the preceding month by the U.S. Commerce Department’s Bureau of the Census. Retail sales data is not adjusted for inflation, but is adjusted for holiday and seasonal differences. Retail sales figures are widely watched economic indicators because individual spending is a major driver of the U.S. economy, contributing about two-thirds to gross domestic product.