US Retail Sales Contract 0.6% in July, Missing Forecasts
US retail sales fell 0.6% month-on-month in July to $763.6 billion, reversing June’s 0.2% gain and missing expectations for a 0.1% increase.
DXY
The US Census Bureau reported on Friday that retail sales declined 0.6% month-on-month in July, bringing the total to $763.6 billion. The reading reversed a 0.2% expansion in June and came in below market expectations for a 0.1% increase.
On a yearly basis, retail sales were up 5.0% in July. The monthly contraction suggests a softer start to the third quarter for US consumer spending.
Source: FXStreet Forex News