US retail sales slump unexpectedly and sharply after a summer tax-refund boost fades

Americans unexpectedly cut their spending in July by the biggest drop since May 2025, raising doubts about the resiliency of consumers who have kept spending and powering the economy despite the rising costs of daily expenses

U.S. Retail Sales Slump Sharply After Tax-Refund Boost Fades  HuffPost

US retail sales slump unexpectedly and sharply after a summer tax-refund boost fades  AP News

Shoppers unexpectedly cut their spending in July as a boost from government tax refunds faded