Americans Are Pulling Back on Spending as US Retail Sales Fell 0.6% in July: Amazon, Non-Store Retailers Hit Hardest
U.S. retail sales fell 0.6% in July as consumer spending missed expectations, according to market commentator The Kobeissi Letter.
Americans bought less stuff in July than expected, which hurt online stores like Amazon the most. When people spend less money, it can signal that companies might earn less profit, so watching spending patterns helps you understand if businesses are doing well.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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