COVID-19 Resurgence Crimps Spending, Travel Recovery

By DAMIAN J. TROISE AP Business Writer
A COVID-19 resurgence this summer has caused consumers to turn cautious, while investors trim their investments in a travel sector still struggling to recover. Retail sales dipped a surprising 1.1% in July as consumers spent less on clothing, furniture and sporting goods. At the same time investors have retreated from cruise lines, airlines and other travel-related stocks as those companies face another potential stall in activity as cases of COVID-19 surged because of the highly contagious delta variant.

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