US Retail Sales Dropped More Than Expected in January

US Retail Sales Dropped More Than Expected in January

US Retail Sales Dropped , More Than Expected in January.br On Feb. 15, the Commerce Department reported that retail sales fell 0.8 for the month, halting a two-month increase streak.br The percentage was significantly br lower than economists' forecasts br of a 0.1 decline, CNN reports. .br Cold weather likely contributed to declines at gas stations and home improvement stores, which fell 1.7 and 4.1, respectively.br Online sales dipped 0.8. .br However, bar and restaurant br sales increased 0.7.br High interest rates and inflation continue to squeeze many Americans, CNN reports. .br But the job market remains steady.br Even though January's sales report br was worse than expected, there's only br been two declines over the last 10 months. .br This weakness typically reverses quickly br as weather returns to normal and br people catch up on spending plans br delayed by the cold and snow, Bill Adams, chief economist at Comerica Bank, via CNN.


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Uploaded: 2024-02-15

Duration: 01:30

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