Calculated by comparing U.S. Total Retail Sales values to the year before.
2008-2009 were challenging years for retailers. The financial market meltdown that began in the fall 2008 dramatically reduced consumers’ discretionary spending power, resulting in the first quarter of negative growth. It took a year to restore to a growing retail market.
Total retail sales reached $4,849.77 trillion in 2016, a 2.6% increase compared to $4,723.96 billion in 2015.
Last reported quarter 2022 Q2 it was 7.5%, down by -73% year-over-year from 28.2%.
Source: The Census Bureau of the Department of Commerce.