Retail sales in June were unexpectedly flat, defying predictions of a decline and indicating a possible slowdown in the US economy. Despite expectations of a 0.3% decrease in spending, retail sales for May were revised higher to a 0.3% increase. Excluding auto and gas, sales in June saw a significant 0.8% rise, surpassing estimates. The control group, a key factor in GDP readings, also showed a strong 0.9% increase. Nonstore retailers saw the highest gains, while gasoline stations and motor vehicle dealers experienced declines. The data suggests that consumer spending remains steady, easing concerns of a significant slowdown. This positive report, along with better-than-expected inflation readings, may delay the Fed's anticipated interest rate cut until after September. Federal Reserve Chair Jerome Powell did not provide a specific timeline for potential rate cuts during a recent interview.