Retail sales slumped 0.9% in January, down much more than expected
Posted: Feb 14, 2025
- Retail sales in January slumped 0.9%, worse than expected
- Excluding autos, prices fell 0.4%, against expectations of a 0.3% increase
- Control measure for GDP fell 0.8% after an upwardly revised increase of 0.8%
- Consumer spending is crucial for the U.S. economy, potential weakening in growth for Q1
- Receipts at sporting goods, music, book stores fell 4.6%
- Online outlets reported a 1.9% decline
- Motor vehicles and parts spending dropped 2.8%
- Gas stations, food, and drinking establishments reported slight increases
- Retail sales fell 0.9% in January, worse than expected
- Excluding autos, prices fell 0.4%
- "Control" sales group slid 0.8%
- Consumer spending makes up 2/3 of economic activity in the US
- Stock market futures held in slightly negative territory
- Import prices accelerated 0.3% in January
- Fuel prices increased 3.2% on the month
- Export prices increased 1.3%
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - Most comments express concerns over economic downturns, recession indicators, and stagflation, although there are some bullish remarks. Summarized comments: - Concerns about the effect of tariffs in the coming months as central banks and governments have limited options with lower interest rates and high fiscal spending - Fear of stagflation as some companies announce workforce cuts and hiring slowdowns - Personal spending is being limited to essentials due to economic uncertainty - Doubts on the effectiveness of austerity in a capitalist economy - Increasing likelihood of a recession suggested by multiple economic and political indicators - Investor sentiment divided between buying the dips and derisking - Some users maintain a bullish outlook despite the negative economic signals
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