As we all expect retail numbers and most say July will be lower than June, others say that may be not just because of Delta variant but also because Amazon switched July's Prime Day to June and its impact was not unnoticed.
According to Yahoo! Finance:
The U.S. consumer will be in focus this week, with the Commerce Department's monthly retail sales report and earnings results from two of the country's largest big box retailers all on deck.
Tuesday's report from the Commerce Department is expected to show that retail sales dropped in July compared to June, with consumer spending pulling back as concerns over the Delta variant increased and the impacts of government-issued stimulus checks earlier this year waned.
Consensus economists expect to see a 0.2% drop in retail sales month-on-month following June's 0.6% gain. This would be the first monthly drop since May, though it would still leave retail sales up markedly from last year's pandemic-depressed levels. Retail sales have risen in four of the past six months, with notable surges coming in January and March in the wake of the distribution of stimulus checks.
Read the whole article here.
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