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Retail sales tumbled 0.8% in January, much more than expected

Posted on AllSides February 15th, 2024
From The Center
Economy and Jobs, Retail Sales
Spencer Platt | Getty Images News | Getty Images

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday.

Advanced retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a drop of 0.3%, in part to make up for seasonal distortions that probably boosted December’s number.

However, the pullback was considerably more than expected. Even excluding autos, sales dropped 0.6%, well below the estimate for a...

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https://www.cnbc.com/2024/02/15/retail-sales-january-2024-.html

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