The big affiliate programs will all tell you that the summer slowdown is a myth, or isn't true. Mid July some will say "we're breaking sales records!" to hype their stuff. The truth of the matter is that it does exist.
The best you can do (like Nick said, by growing) is to launch something very hot and new right before the slowdown hits so webmasters have something hot to promote over the summer.
In my experience it tends to go from mid June until Labour Day. But then like the sun rising, sales spike right up the first week of September.
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