US retailers will closely monitor consumer spending as they report earnings next week, as the health of American consumers is crucial in understanding the impact of President Trump’s tariff regime. Consumer spending accounts for approximately 66% of America’s GDP and has been a key driver of the S&P 500 Index’s record highs. In July, retail sales rose following upwardly revised gains in June, indicating continued consumer resilience.
Source: https://www.bloomberg.com/news/articles/2025-08-16/health-of-us-consumer-is-the-focus-as-retailers-prepare-earnings