How did the retail sales control group perform in July compared to forecasts?
The retail sales control group, which feeds directly into GDP calculations, fell 0.4% in July, which was lower than the 0.3% gain that analysts had forecast. Additionally, previously reported gains for May and June were revised downward.
Q&A ID dcf40fa0-0943-4e6e-83cc-27018887e07f
What was the impact of Personal Consumption Expenditures on GDP growth in the second quarter?
Growth in Personal Consumption Expenditures contributed 2.1 percentage points to overall GDP growth in the second quarter, even as other sectors combined to subtract from GDP.
Q&A ID aa369e36-8240-4cd1-bdca-cf23f9562d11
How did the timing of the World Cup affect the retail sales data for July?
Because most World Cup games took place in June, the associated spending likely pushed retail sales upward in early summer, which created a mechanical effect that could result in a misleading decline in July.
Q&A ID e9a5e082-e119-439c-9b74-4fe443649db3
What factors contributed to the 2.2% drop in online sales during the period?
The drop in online sales was partly explained by Amazon holding its Prime Day discounting event earlier in the year than it did the previous year.
Q&A ID a50f4739-f9a9-4203-9344-7e54cfc0e613