Goldman Sachs sees China retail sales growth staying weak

U.S. retail sales fell 0.6% in July, marking the biggest drop in over a year and the first decline in nine months. This slump, attributed to persistent inflation and fading tax refunds, fell well below analyst expectations of a 0.1% gain. While underlying consumer demand remains solid, this trend, alongside weak jobs reports, suggests the Federal Reserve may remain patient regarding interest rate increases. Meanwhile, Goldman Sachs expects China retail sales growth to remain weak.