美国7月零售销售环比下滑0.6%，创2025年5月以来最大跌幅[1]。这一意外下降主要反映了前期政府税收退款刺激政策效应的消退[1]。根据修正后的数据，前月零售销售增长0.2%[1]。
消费需求的疲软在多个领域有所体现。扣除汽油站和汽车经销商的核心零售销售下降0.2%[1]，其中消费者在消费电子产品和在线零售商等领域显著收缩支出[1]。唯一的亮点是餐饮服务保持增长，环比上升0.5%[1]。与此同时，汽油价格从一个月前的每加仑3.85美元上升至4.08美元[1]。此前在4月和5月，税收退款曾带动明显的消费支出增长[1]。
U.S. retail sales declined 0.6% in July, marking the steepest monthly decrease since May 2025, as the stimulative effect of government tax refunds dissipated [1]. The previous month's figures were revised upward to show 0.2% growth [1]. When excluding gasoline stations and automotive dealerships, core retail sales fell 0.2% [1].
The downturn reflects a pullback in consumer spending across key categories. Purchases of consumer electronics and online retail dropped notably during the month [1]. The decline follows a pattern of elevated spending in April and May, when tax refunds had bolstered consumer activity [1]. Gasoline prices rose from $3.85 per gallon one month prior to $4.08 per gallon, adding to household expenses [1]. Food service establishments provided a bright spot, with dining spending increasing 0.5% [1].