While the state of U.S. manufacturing has been in the spotlight under the Trump administration, CNBC's Jim Cramer thinks that this attention is misplaced.
"Two thirds of our economy is based on consumer spending," the "Mad Money" host said. "In other words, we spend far too much time worrying about our trading partners and far too little time talking about what our economy is really about: shopping for goods and services."
Cramer pointed to several retail names that have beat earnings expectations in recent weeks, including Target, Lowe's and Kohl's. He believes that Wall Street analysts have been "dead wrong" in their evaluation of the retail sector, which has led to such large discrepancies between earnings estimates and reality.
Here are Cramer's three main areas where analysts have missed the mark on retail: