US retail sales slump unexpectedly and sharply after a summer tax-refund boost fades
NEW YORK (AP) — After splurging on the World Cup and Amazon Prime Day sales, Americans unexpectedly cut their spending in July by the biggest amount in more than a year. Retail sales fell 0. 6% last month, marking the biggest decrease since May 2025, compared with a revised gain of 0. 2% in June, according to the Commerce Department data released Friday. Economists were projecting a small increase. The decline followed a notable bump in spending in both April and May as Americans dipped into...
Read MoreFri, 14 Aug 2026
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