US retail sales drop unexpectedly as Americans curb spending following summer splurges

Americans spent heavily during the World Cup and Amazon Prime Day, but they unexpectedly cut their spending in July. Retail sales fell 0.6% last month, which is the largest decrease since May 2025, compared with a revised gain of 0.2% in June, according to data the Commerce Department released on Friday. 
Economists had projected a small increase in July, the Associated Press reported, and some economists are raising concern about what the drop means for the resiliency of consumers, which has powered the economy forward despite inflation and high gasoline prices. 
The decline comes after a bump in spending in April and May, which is attributed to Americans spending their government tax refunds. The drop also follows disappointing job figures last week. Altogether, these indicators could suggest the economy is slower after strong outcomes in the first half of the year. 

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