US retail sales declined 0.6% in July versus a forecast for a 0.1% increase, the sharpest drop in more than a year. The weakness was driven by pullbacks in online retail and at auto dealers, suggesting softer consumer demand. This print is likely to weigh on near-term growth expectations and could modestly pressure rate-sensitive and consumer-exposed equities.
US retail sales declined 0.6% in July versus a forecast for a 0.1% increase, the sharpest drop in more than a year. The weakness was driven by pullbacks in online retail and at auto dealers, suggesting softer consumer demand. This print is likely to weigh on near-term growth expectations and could modestly pressure rate-sensitive and consumer-exposed equities.
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Request DemoOverall Sentiment
mildly negative
Sentiment Score
-0.25
