Courtesy of Mish.
In Dealers “Wildly Overweight” SUVs as Sales Slow, I commented “Vehicles account for 20% of retail spending. A crash or even a significant slowdown will impact retail sales and thus GDP.”
A reader asked me how I calculated that. Let’s take a look.
My number came from the latest Census Department Advance Retail Sales Report.
Here are some charts I created from 7-month totals (January-July) 2017.
Retail Sales in Millions of Dollars
Retail Sales Category Percentages
Key Points
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