Retail sales: the thermometer of consumption
Updated 2026-09-20
What retail sales measure, when they're released, the difference between headline and core and the impact on currencies.
What it is
Retail sales measure consumer spending at shops and other retailers. Because consumption is the largest part of GDP in economies such as the US, the figure is a good thermometer of the economy's state.
When it's released
In the United States it is published by the Census Bureau usually mid-month at 8:30 New York time. Similar data exist for the UK, the eurozone, Australia and Canada.
How to read it
Look at the headline and the "core" figure (excluding for example autos and fuel, which are more volatile), the monthly change and revisions to the previous month. What counts is the gap against the forecast.
Impact on markets
Stronger-than-expected consumption supports growth and expectations of higher rates (a stronger currency); weak consumption the opposite. Prices can also influence: in a period of inflation, high nominal sales don't necessarily mean higher volumes.
Frequently asked questions
Why look at the core figure?
Because it excludes very volatile components such as autos and fuel and better shows the underlying trend of consumption.
Times and forecasts in the economic calendar
Check the calendar for the exact time, the forecast and the actual figure as soon as it is published.
Open the calendarRelated entries
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Educational content, not financial advice. Trading involves risk.