US Retail Sales Unexpectedly Decline 0.6% in July, Weakest in Over a Year
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| GBPUSD | — | — |
| USDJPY | — | — |
- US Retail Sales unexpectedly fell 0.6% in July.
- This was the weakest performance in over a year, missing 0.1% expectations.
- Decline driven by 1.8% drop in auto sales; USD weakened.
United States Retail Sales unexpectedly contracted by 0.6% month-over-month in July, totaling $763.6 billion, according to reports released on Friday. This figure reversed the 0.2% expansion recorded in June and fell significantly short of market expectations for a 0.1% gain, marking the weakest performance in over a year. The decline was largely attributed to a 1.8% drop in sales by motor vehicle and parts dealers, alongside broader weakness in internet sales. The retail control group, which excludes volatile components, also fell by 0.4% against an anticipated 0.3% increase, signaling underlying consumer caution. On a yearly basis, total retail sales were still up 5.0% for the period. The USD traded with marked losses following the release.