Summary
- US January retail sales decreased by 0.9% compared to the previous month.
- The larger-than-expected decrease indicates weakening consumer sentiment.
- The retail sales decline is attributed to high interest rates and high prices.
US retail sales in January decreased by 0.9% compared to the previous month.
According to data released by the US Department of Commerce on the 14th (local time), US retail sales in January decreased by 0.9% compared to the previous month. While Wall Street experts predicted a 0.2% decrease, the actual figure turned out to be significantly worse.
Core retail sales, excluding food and energy, showed a 0.4% decrease.
The monthly retail sales indicator, which tracks merchandise sales performance, is a metric that can indicate changes in consumption and sentiment. The decline in retail sales suggests that consumer sentiment is freezing due to high interest rates, high prices, and intensifying inflation.
YM Lee
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