Consumer Spending Declined In July. Goldman Sachs Expects It To Fall Further.

Consumer sentiment dropped sharply in August, falling to 51.0 compared to 55.2 in July. (Credit: Getty Images)

Figures related to consumption in the U.S. fell in July, dampening the outlook of the country's economy. And a top Goldman Sachs analyst believes the trend will deteriorate further.

"We expect sluggish consumer spending growth ahead," Goldman Sachs' Jan Hatzius wrote in a note picked up by Yahoo Finance.