July retail sales fell 1.1% from June, the Commerce Department said, exceeding consensus estimates of a 0.3% decline. The June total was revised modestly higher, to a gain of 0.7% on the month
TheStreet's Martin Baccardax noted that July retail sales could suggest the delta variant of the coronavirus is beginning to impact the U.S. economy.
Jim Cramer attributed much of the disappointing result to unexpected impact from the continued spread of the delta variant in addition to inflation in an interview with Action Alerts PLUS senior analyst Jeff Marks.
"The American consumer froze in the month of July and who can blame them?" Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/17/21