Reported 28 days ago
U.S. retail sales fell 0.9% in January, much more than expected, attributed to severe cold weather which likely deterred consumers from shopping. This decline followed a revised 0.7% increase in December and appears to be a correction after several months of strong gains. Factors such as anticipated tariffs and severe weather across the country, including snowstorms, contributed to the decrease. Core retail sales, excluding automobiles and other volatile categories, also saw a drop of 0.8%. Despite these challenges, consumer spending remains strong, supported by a resilient labor market and high household wealth.
Source: YAHOO