US retail sales fell more than expected in July
US retail sales fell more than expected in July
US retail sales fell more than expected in July as data showed today that US retail sales fell 1.1% in July versus 0.7% in June, and on an annual basis retail sales rose 15.8% in the twelve months to July compared to the same period in Last year, auto dealership revenue fell 3.9% in July after falling 2.2% in June. Online retail sales fell 3.1% in July. Sales in clothing stores fell 2.6% in July. Core retail sales, excluding cars and gasoline, fell 2.6% in July. Building materials and food services increased 1.0% in July after rising 1.4% in June as core retail sales closely align with the consumer spending component of GDP.