July's retail sales numbers suggest there's no major consumer spending acceleration taking place.
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American consumers have powered the economy forward this year. In July, they took a breather.
Why it matters: While the underlying trend in consumer demand appears solid, retail sales hit an air pocket last month, suggesting a bumpier path ahead for overall growth.
Driving the news: Retail sales fell 0.6% in July, the weakest performance in more than a year and well below the 0.1% gain analysts expected.
Retail sales dropped sharply in July as consumers tighten spending
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US retail sales unexpectedly fall in July
U.S. retail sales unexpectedly post largest drop in more than a year
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Frustrated US consumers cut their retail spending last month | CNN Business
US retail sales rise 5% year over year in July, marking a sharp cooldown from spring highs
US retail sales fell 0.6% in July, missing forecasts as consumers pull back
