Retail sales decline more than expected in January
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Retail sales slipped more than Wall Street expected in January, raising questions of whether America’s resilient consumer could be losing steam.
Retail sales fell 0.8% in January from the month prior according to Census Bureau data. Economists had expected a 0.2% decrease in spending, according to Bloomberg data. December retail sales previously posted a surprise 0.6% increase but that was revised down to 0.4% in Thursday’s release.
The month-over-month decline was the largest since March 2023.
January sales, excluding auto and gas, decreased by 0.5% compared to estimates for a 0.2% increase.
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