US retail sales fell 0.6% in July on a nominal basis, the largest monthly
decline in over a year, as weaker auto and online-store purchases pulled
spending lower. Excluding autos and gasoline, sales declined 0.2%. The report
suggests consumers lost some momentum after a strong 1H 2026; economists remain
cautious after large one-off tax refunds early in 2026 and June’s personal
saving rate fell to a four-year low.
