June Retail Sales Fall Short of Expectations as Consumer Spending Cools

Retail sales in the US rose by only 0.2% in June, falling short of expectations and indicating a slowdown in consumer spending. Despite signs of slowing inflation, Americans are becoming more cautious with their spending, possibly due to concerns about rising unemployment. While certain categories like cars and online shopping saw increased sales, spending declined in areas such as grocery stores and home improvement outlets. The softer-than-expected data suggests that consumers are depleting their excess savings and relying more on credit to support their spending habits.