US Industrials—Card Insights: Credit Card Insights into US Multi-Industry—July ‘26 Week 1

Research evidence excerpt

US Industrials—Card Insights: Credit Card Insights into US Multi-Industry—July ‘26 Week 1

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15 Jul 2026 04:00:00 ET │ 14 pages

US Industrials—Card Insights

Credit Card Insights into US Multi-Industry – July ’26 Week 1

CITI'S TAKE

Andrew Kaplowitz AC

We continue to examine a subset of Citi US Credit Card data (July ’26 Week +1-212-816-0642

1; ended 7/11) for potential read-throughs. Unsurprisingly, in the “HVAC andrew.kaplowitz@citi.com

Bucket”, following meaningful +ve inflection in June ’26 Week 5 related to

high temperatures, we saw trends moderate this week. That said, given a Vladimir Bystricky

hot summer start (cumulative cooling-degree days higher than prior years, +1-212-816-6595

see Figure 19), we think HVAC data could trend higher over the following vladimir.bystricky@citi.com

weeks (potentially +ve TT/CARR/CSW). In the “Auto Bucket”, data across all

three subcategories remain mixed and we continue to monitor if a clear Jose Sulca Flores

trend appears. In the “Consumer Bucket”, Car Washes was the only +ve jose.alonso.sulcaflores@citi.com

subcategory this week.

General Description — Card Insights represent a selected subset of Citi’s credit card

transactions and are not representative of Citi’s overall credit cardholder population.

The data is highly aggregated, anonymized and should be considered in the context

of other economic indicators and publicly available information. All cards included

within Card Insights comprise a panel of more than 10 million US cardholders.

Card Insights Disclaimer and Methodology

Week-over-Week Subsector highlights in July '26 Week 1 (ended 7/11) vs. June '26

Week 5 (ended 7/4) — We saw the largest acceleration in 1) Motor Vehicle Supplies

and New Parts (+27.6% w/w), 2) Plumbing and Heating Equipment (+22.7% w/w)