Today, the Census Bureau advised that retail sales in the USA fell 0.8% in January from December.
This result is higher than the estimate of 0.2% decrease, and the largest month-over-month decline since March 2023.
In more details, building materials and garden equipment led the declines, dropping 4.1%, while sales at miscellaneous store retailers fell 3%.
The January report was important to evaluate a “soft landing” in the US economy, where inflation cools to the Fed Reserve’s targeted 2% rate without an extreme downturn in economic activity.
The decline in the January sales report is seen as a sign of concern by many analysts.