With auto sales continuing to fall sharply, the Commerce Department released a report on Tuesday showing U.S. retail sales tumbled by much more than expected in the month of July.The report said retail sales slumped by 1.1 percent in July after climbing by an upwardly revised 0.7 percent in June.Economists had expected retail sales to dip by 0.3 percent compared to the 0.6 percent increase origina...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.