US Industrials—Card Insights: Credit Card Insights into US Multi-Industry—July ‘26 Week 3

Research evidence excerpt

US Industrials—Card Insights: Credit Card Insights into US Multi-Industry—July ‘26 Week 3

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29 Jul 2026 04:00:00 ET │ 13 pages

US Industrials—Card Insights

Credit Card Insights into US Multi-Industry – July ’26 Week 3

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

3; ended 7/25) for potential read-throughs. In the “Auto Bucket,” data andrew.kaplowitz@citi.com

trends modestly improved after a mixed July start (two out of three

subcategories posted +ve y/y), potentially +ve GTES/DOV/VNT. In the Vladimir Bystricky

“Consumer Bucket,” all subcategories decelerated with Car Washes +1-212-816-6595

remaining the only +ve subcategory (+1.0% y/y and +6.8% YTD). In the vladimir.bystricky@citi.com

“HVAC Bucket,” general trends continued to moderate following a

significant +ve inflection in June ’26 Week 5, although we call out an Jose Sulca Flores

inflection in the Air Conditioning and Refrigeration Repair Shops jose.alonso.sulcaflores@citi.com

subcategory (+4.1% y/y being the largest positive result in July ’26 Week 3).

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 3 (ended 7/25) vs. July

'26 Week 2 (ended 7/18) — We saw the largest acceleration in: 1) Office, School