I’m guessing they’re buried in Health Care and Education because it doesn’t look like they’re in retail sales. See what I mean:

FRED Graph

Up until right before the crash the two tracked each other well. However, at the peak of the housing bubble, when Americans were supposed to be blowing all their money on Plasma TVs and nights out at the Olive Garden, retail sales growth was actually slowing down while Personal Consumption Expenditure continued growing, unabated.

To date Retail Sales have not yet recovered. However PCE is on a tear, breaking through the old peak and setting new highs. What gives?

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