US retail sales fall below forecasts

Data from the U.S. Census Bureau showed a 0.6% decline in retail and food service sales in the United States in July 2026, reaching $763.6 billion, contrary to expectations of a 0.1% increase. These losses occurred despite the slowdown in annual inflation to 3.4% and a 2.9% monthly drop in gasoline prices. Sales in sectors such as automobiles, non-traditional retail, and e-commerce decreased, while clothing, health, and food stores experienced slight gains. The reduction in e-commerce sales is partly attributed to Amazon's early Prime Day event, while consumer spending remains vulnerable to the impact of rising gasoline prices, despite continued household support through substantial tax payments. Despite these challenges, consumer spending still accounts for more than two-thirds of U.S. economic activity, with GDP growing by 1.5% in the second quarter.

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