00:00U.S. consumers unexpectedly pulled back on spending in July, with retail sales falling
00:050.6 percent, the biggest monthly decline since May 2025. The drop came after a revised 0.2 percent
00:12increase in June, and as the boost from government tax refunds faded. The weaker spending numbers
00:18arrive as inflation remains elevated, and Americans continue to feel pressure on household
00:23budgets. The slowdown is giving investors another reason to watch closely for signs of a broader
00:29cooling in the economy.
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