U.S. retail sales dropped by the most in nearly two years in January, likely because of frigid temperatures and moderation following hefty gains in the past four months, suggesting a sharp slowdown in economic growth early in the first quarter.

US 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.

In addition to cold weather, the sales decline could in part point to fading consumer confidence as was reflected in a pair of recent surveys by the Conference Board and Universit

U.S. retail sales fell more than expected in January, likely as frigid temperatures kept consumers from automobile showrooms. Retail sales dropped 0.9% last month after an upwardly revised 0.7% increase in December,