Is the US Commerce Department underestimating retail sales?
A consumer survey points to a 16% rise year on year, yet the Commerce Department reported another gain of only 5.2%--you do the math
The Gallup Poll’s 14-day moving average of consumer retail expenditures is up 16% year on year, while the Commerce Department reports a gain of only 5.2%.
Some of the discrepancy may be due to underreporting of online sales. Amazon revenues were up 22% during 2016 while the Commerce Department’s estimate of online sales growth rose only 14%.