Few understand the US Retail Sales data
I didn't understand it either early in my career. Here's how it works....
Despite being a consumer sector analyst on Wall Street for six years, I never fully understood how US Retail Sales data were calculated by the US Census Bureau. In my defense, I didn’t need to understand exactly how it was done. But it bothered me.
Take last month’s July headline from CNBC:
Just glancing at the headline, unless you follow these data point…
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