July's Drop in Retail Sales May Reduce Chance of a September Hike
Dow Jones
Aug 14
0919 ET - The fall in the control group of retail sales in July, along with downward revisions to growth in May and June, suggests the consumer is looking a little less healthy, according to Capital Economics. In a note, economist Stephen Brown also predicts the decline will further reduce the chance of the Fed hiking at its September meeting. Some Federal Reserve officials have cited robust consumer spending as a reason to remain cautious about inflationary pressures, but this retail sales report may prompt officials to monitor retail spending more closely.
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