US July Retail Sales Drop 0.6% Monthly, Missing 0.1% Forecast
Deep News
Aug 14
US retail sales fell 0.6% in July compared to the previous month, significantly underperforming the 0.1% increase that analysts had projected.
Excluding automobiles, retail sales declined by 0.3% month over month, while economists had anticipated a 0.2% gain. The forecasts from 63 economists ranged from a 0.5% drop to a 0.7% rise.
Total retail sales in July decreased to $763.6 billion. The "control group" measure, which excludes food services, auto dealers, building materials, and gas station sales, also fell by 0.4% month over month.
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