via Business of Fashion · August 14, 2026
US Retail Sales Post First Decline in Nine Months in July
Retail sales dropped 0.6 percent last month after an unrevised 0.2 percent gain in June, but receipts at clothing stores rebounded 1.9 percent, likely boosted by back-to-school shopping.
The Story
US retail sales fell in July for the first time in nine months as the boost from big tax refunds faded, suggesting that consumer spending was slowing down and prompting economists to slash their economic growth estimates for the third quarter.
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Original report
Business of Fashion
