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July retail sales fell sharply, marking the biggest drop in over a year
The decline underscores ongoing pressure on American households as persistent inflation continues to weigh on spending.
The New York Times Business reports that July retail sales posted the biggest drop in more than a year.
The outlet attributes the weakness to economic strain on American households, driven by persistent inflation.
The report frames the pullback as evidence that consumer spending is struggling even as inflation remains a key headwind.
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