tuesday’s release of the us department of commerce’s june retail sales report will provide investors and economists with an important snapshot of consumer spending trends and in turn the state of the economy despite the limitations of the report exclusion of service sector spending it is still a significant indicator of economic health for june yearoveryear sales are expected to dip 11 while monthovermonth figures are projected to increase by 05 a number falling short of expectations could suggest that the federal reserve’s rate hikes are starting to dampen consumer demand while an uptick might indicate sturdy demand and support further rate hikes within the retail landscape the auto industry demands attention due to its contribution to consumer spending  read also no us recession expected yellen says ‘our labor market continues to be quite strong’ june’s auto industry sales surged 21 to 138 million units according to globaldata’s preliminary figures with growth fueled by a rebound from the chip shortage and the pandemic along with easing parts shortages that have enabled automakers to increase their inventories june’s 158 million seasonally adjusted annualized rate of auto sales marked the thirdhighest sales pace this year however industry volumes are below 20152019 when annual us sales consistently exceeded 17 million units autos aside nonfarm payrolls in june rose 209000 according to bls data missing economists expectations of 225000 the lowerthanexpected reading came on the heels of the adp national employment report which showed 497000 jobs added in june with the unemployment rate ticking down to 36 and auto sales surging 21 we may see a retail sales report above the 05 projections on retail stocks over the last month performance has been mixed costco wholesale corporation cost moved 589 higher in the last four weeks while best buy co inc bby and kohl’s corporation kss gained 332 and 965 respectively though shares of target corp tgt fell 183 over the same period read next bank of america morgan stanley charles schwab report tuesday earnings season heats up