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.