Retail Sales (Monthly Change) vs S&P 500 Price-to-Earnings Ratio (Forward)
Retail Sales (Monthly Change) is currently -0.2% (down -0.4%). S&P 500 Price-to-Earnings Ratio (Forward) is currently 20.3x (down -1.20).
| Metric | Retail Sales (Monthly Change) | S&P 500 Price-to-Earnings Ratio (Forward) |
|---|---|---|
| Current value | -0.2% | 20.3x |
| Previous reading | 0.2% | 21.5x |
| Change | -0.4% | -1.20 |
| Trend | down | down |
| Frequency | Monthly | Weekly |
| Source | U.S. Census Bureau | S&P Global |
| Last updated | 2026-03-17 | 2026-04-04 |
| Category | consumer | growth |
What Retail Sales (Monthly Change) measures
Retail sales measures the total receipts of retail stores, covering purchases of durable and nondurable goods. It is a timely indicator of consumer demand and is closely watched for signs of economic strength or weakness.
Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data suggests consumers are pulling back on discretionary purchases while maintaining spending on essentials. E-commerce continues to gain share of total retail sales.
What S&P 500 Price-to-Earnings Ratio (Forward) measures
The forward price-to-earnings ratio measures the S&P 500 index price relative to expected earnings per share over the next 12 months. It is the most widely used valuation metric for the U.S. stock market.
The S&P 500 forward P/E at 20.3x has declined from its recent highs but remains above the 25-year average of approximately 16.5x. Markets are pricing in solid earnings growth but are no longer at 'euphoric' valuations. For executives evaluating M&A, stock compensation, or capital market activity, current valuations suggest a market that is fairly valued to modestly expensive — not cheap, but not at bubble levels either.
Frequently asked
Retail Sales (Monthly Change) is currently -0.2%, down -0.4% from the previous reading. Source: U.S. Census Bureau, updated monthly.
S&P 500 Price-to-Earnings Ratio (Forward) is currently 20.3x, down -1.20 from the previous reading. Source: S&P Global, updated weekly.
Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data sugges The S&P 500 forward P/E at 20.3x has declined from its recent highs but remains above the 25-year average of approximately 16.5x. Markets are pricing in solid earnings growth but are no longer at 'eup