U.S. Retail Sales See Sharp Decline Amid Weather Challenges and Tariff Uncertainty
Retail sales dropped 0.9% in January, the largest decline in a year, influenced by severe cold weather and rising inflation pressures.
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Overview
U.S. retail sales experienced a notable 0.9% decline in January, the most significant drop in a year, mainly due to extreme cold weather limiting consumer spending. Auto sales fell 2.8% and online sales decreased by 1.9%, despite increases at general merchandise stores. January witnessed the lowest temperatures since 1988, particularly affecting southern states. Economists highlighted potential impacts from rising prices and uncertainty surrounding President Trump’s tariff proposals. Consumer confidence appears to be waning, as indicated by recent surveys, yet steady employment and wage growth hint at ongoing economic expansion.
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