US: Retail Sales decline by 1.1% in July vs. -0.2% expected

  • Retail Sales in US fell at a stronger pace than expected in July.
  • US Dollar Index continues to push higher toward 93.00.

Retail Sales in the US declined by 1.1% on a monthly basis in July to $617.7 billion. This reading followed June's expansion of 0.67% (revised from 0.6%) and came in worse than the market expectation for a decrease of 0.2%.

"Total sales for the May 2021 through July 2021 period were up 20.6% from the same period a year ago," the publication further read. "Retail trade sales were down 1.5% from June 2021 but up 13.3% above last year."

Market reaction

The souring market mood following this report is helping the USD continue to gather strength against its rivals. As of writing, the US Dollar Index was up 0.27% on a daily basis at 92.86.

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