U.S. Retail Sales Flat in June

U.S. retail sales remained flat in June, defying expectations of a decline and indicating mixed consumer spending trends. While categories like online retail and clothing saw increases, big-ticket items such as motor vehicles experienced declines. Excluding gas and auto sales, retail sales rose by 0.8%, reflecting resilient but cautious consumer behavior. The report's strength diminishes the likelihood of a July interest rate cut by the Fed. Conversely, China's retail sales growth weakened significantly, reflecting low consumer confidence amid property market struggles, leading to mounting pressure on Beijing to implement measures to stimulate economic recovery.