Retail sales fall 0.6% in July as tax-refund boost fades

NEW YORK (AP) - Americans unexpectedly cut back on spending last month as a boost from government tax refunds faded. @apnews.com

Retail sales fell 0.6% last month, marking the biggest decrease since May 2025, compared with a revised gain of 0.2% in June, according to the Commerce Department data released Friday. Economists were projecting a small increase. apnews.com/article/reta...

I suspect people can no longer keep making up the difference with credit cards so they're just not spending like they used to. apnews.com/article/reta...

Even sadder is that money collected from tariffs was already spent on subsidies to farmers and filling in for revenue lost from tax-cuts for the wealthy, so these refunds are coming adding to the national debt and future taxpayer money.

"Americans unexpectedly cut their spending in July as a boost from government tax refunds faded. Retail sales slipped 0.6% last month, the biggest drop since May 2025, from a revised gain of 0.2% in June, according to Commerce Department data released Friday."

Guess who was president the last time retail sales fell this sharply?

Goldman: "we continue to expect consumer spending growth to slow from the solid pace of 2026H1, as the boost to consumer cashflow from larger-than-usual tax refunds that supported spending earlier this year fades and the headwind from higher energy prices remains"

Tax refunds were long gone….it is inflation and gas prices. Another article where the AP has their head up 47’s ass….

Retail sales fell in July, adding yet another negative data point to the faltering economy under President Donald Trump. According to Commerce Department data released Friday, sales fell 0.6% last month, the largest decline since May of 2025.

Trump's "Golden Age" 🤣🤣 Retail sales tumble in July, their biggest drop in more than a year www.washingtonpost.com/business/202...

"This points to a material slowdown in real consumer spending growth in the third quarter," said Sal Guatieri, a senior economist at BMO Capital Markets, Reuters reported. #TheRisingCostofEverything

The tax refunds went to the pumps, groceries and utilities ! Approaching school and only buying one doll like Trump suggests. Unexpectedly ? Economists warned screaming ! apnews.com/article/reta...

🧵Trump Explodes the Federal Deficit "A sharp decline in corporate income-tax revenue & higher tax refunds to businesses, stemming from the One Big Beautiful Bill Act, have also hurt the U.S. government’s cash coffers." 2/3

Economic warning sign: Retail sales slump in July, dropping 0.6% www.axios.com/2026/08/14/r...

Retail Sales Surprise Wall Street with First Drop in Nine Months The Morning Sixpack Podcast - 08/14/2026: Tariffs, shoppers, gun ruling, White House bunker, Big Tech profits and Epstein revelations. #MorningSixpackPodcast