Despite Hope of Economic Rebound Shoppers Send July Sales South

Regardless of which parts of the economy are recovering, consumer spending still isn't one of them. Retail industry sales for July (excluding automobiles, gas stations and restaurants) decreased 5.0 percent unadjusted year-over-year and declined 0.6 percent seasonally adjusted month-to-month, according the National Retail Federation (NRF).

As the back-to-school season in August approaches, there is fear and trepidation that customers will continue curbing their spending habits.

Sales at clothing and clothing accessories stores increased a meager 0.6 percent adjusted month-to-month but decreased 7.2 percent unadjusted year-over year.

Figures released by the U.S. Commerce Department for July show that total retail sales decreased 0.1 percent, adjusted from the previous month, and decreased 7.9 percent unadjusted year-over-year.