15 August 2023
Retail sales in July grew by 0.7%, outpacing Wall Street’s expectations of 0.4%. Most categories experienced growth, particularly online retailers, which saw a 1.9% increase from June, driven by events like Amazon Prime Day. However, furniture and home furniture stores faced a 1.8% decline. Notably, Home Depot signaled a downturn in spending on high-value items, with its CEO, Ted Decker, highlighting continued pressure on specific high-ticket categories.