As auto sales are known by the time of this report, the component excluding sales of autos presents the new information. Also, as the prices for food and energy can be volatile, it often pays to exclude gas station receipts or food store sales, to get a crisper view of consumer demand.
The sales of durable goods should also receive close attention, due to their interest-sensitivity. The impact of the Fed raising interest rates to ward off inflation should lead to a decrease in durable goods spending, indicating an approaching slowdown.
