ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Retail sales are a good indicator of the pulse of the economy and its projected path toward expansion or contraction. Retail sales figures are reported by all food service and retail stores and compiled by the U.S. Census Bureau.

Detailed explanation-2: -The most common indicator of growth in retail is the sales volume. If you’re selling more, then you’re growing. However, growth encompasses more than just the number of sales, it also involves improving your processes.

Detailed explanation-3: -Retail sales is a leading indicator that tracks the amount of spending in an economy. This indicator provides information on how much money consumers are spending on various goods and services in the economic marketplace.

Detailed explanation-4: -Coincident indicators There are many coincident economic indicators, such as Gross Domestic Product, industrial production, personal income and retail sales.

Detailed explanation-5: -What is considered retail? Retail is the sale of goods or services from a business directly to a consumer for their own use. It can include physical stores, online stores, and mobile stores.