Overview

• Retail sales fell 0.8% in January from December, marking the largest decline since March 2023.
• Economists attribute the slowdown to snowy weather and financial hurdles such as higher interest rates.
• Consumer spending in nine of 13 categories decreased, with significant drops in building materials and online sales.
• Despite the slowdown, the job market remains strong with 353,000 jobs added in January.
• Inflation cooled in January but remains above the Federal Reserve's 2% target, fueling concerns over continued high prices.