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US retail sales fell 1.1% in July as delta concerns weighed on consumers
US shoppers cut their purchases in July by more than expected as concerns about the delta slashed activity and dried up government stimulus.
Retail sales for the month fell by 1.1%, worse than the Dow Jones estimate of 0.3%.
Excluding automobiles, sales fell 0.4%, according to Commerce Department figures released on Tuesday.
Consumers make up nearly 70% of all activity in the United States, so retail sales are closely monitored as a measure of overall economic health.
Backed by a series of government stimulus checks, shoppers helped lift the economy out of the shortest recession in history, and only two months of initial coronavirus fears lasted in February 2020 through April, a month after financial and monetary authorities launched a series of unprecedented programs to get America out of the pandemic. .
