South Korea's retail sales index rose 0.4 percent on the month in March after an increase of 5.2 percent in February with year-over-year growth unchanged at 0.5 percent. Officials previously noted that the strength in headline sales in February was partly driven by the impact of lunar new year holidays on spending patterns. Sales of consumer durables were stronger than headline sales, with year-over-year growth increasing from 0.6 percent in February to 3.3 percent in March.

Officials also publish a separate report on sales for 25 large retailers. This showed a moderation in year-over-year growth from 7.9 percent in February to 6.4 percent in March, with stronger sales growth for department stores offset by weaker sales for hypermarket chains and convenience stores. Officials noted that year-over-year growth remains relatively strong for these retailers in part due to the base effect of weakness twelve months earlier during the Omicron outbreak.

Retail Sales measure the total receipts at stores that sell durable and nondurable goods. The data are part of the Monthly Industrial Statistics report.

With consumer spending a large part of the economy, market players continually monitor spending patterns. The pattern in consumer spending is often the foremost influence on stock and bond markets. For stocks, strong economic growth translates to healthy corporate profits and higher stock prices. For bonds, the focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth.

Retail sales not only give you a sense of the overall picture, but also the trends among different types of retailers. Especially strong apparel or electronics sales can indicate strength in those industries, for example. These trends from the retail sales data can help you spot specific investment opportunities, without having to wait for a company's quarterly or annual report.