US Retail Sales Drop by Most in Two Years, Stoking Concern
February 14, 2025
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2:42Now PlayingUS Retail Sales Drop by Most in Two Years, Stoking Concern
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as posted by the channelUS retail sales slumped in January by the most in nearly two years, indicating an abrupt pullback by consumers after a spending spree in the closing months of 2024.
The value of retail purchases, not adjusted for inflation, decreased 0.9% after an upwardly revised 0.7% gain in December, Commerce Department data showed Friday.
Nine of the report’s 13 categories posted decreases, most notably motor vehicles, sporting goods and furniture stores. The data encompassed a period marked by devastating wildfires in Los Angeles — the second-largest metropolitan area in the US — and severe winter weather in other parts of the country, which could have depressed brick-and-mortar shopping activity.
Lindsey Piegza, Chief Economist at Stifel Financial, details the broader implications of this week's hotter-than-forecast inflation data and retail sales miss. Dr. Piegza speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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