Commerce Department data shows that U.S. retail sales fell 0.6% in July, the largest decrease since May 2025, according to a report by the Associated Press.
The July sales, compared with a revised gain of 0.2% in June, ran counter to economists’ predictions of a small increase.
Sales had also increased in April and May after American consumers received tax refunds, but the July dip, along with a monthly jobs report that said the economy lost 23,000 jobs in July, gave economists cause for concern.
The latest University of Michigan consumer sentiment index, released Friday, reflects growing consumer pessimism. It reported that consumer confidence fell 8% from the July report.
