FX.co ★ US Real Consumer Spending Stalls in July

Inflation-adjusted US personal spending was flat month-on-month in July 2026, after a 0.4% increase in June. Goods spending fell 0.6%, reversing the 0.6% rise in the prior month, as households cut back on gasoline and other energy goods (-0.1% vs 2.5%), motor vehicles and parts (-1.6% vs 1.2%), and recreational goods and vehicles (-2.9% vs 0.1%).

In contrast, services spending rose 0.3%, though this marked a slowdown from June’s 0.4% gain. Growth in services outlays eased in healthcare (0.4% vs 0.6%), transportation (0.6% vs 0.8%), recreation (0.1% vs 1.3%), and financial services and insurance (0.1% vs 0.7%). Spending on housing and utilities services inched up 0.1%, following a flat reading in June.