U.S. retail sales dropped sharply last month, in part because cold weather kept more Americans indoors, denting sales at car dealers and most other stores. Retail sales fell 0.9% in January from the previous month,

U.S. retail sales fell 0.9% in January due to cold weather and fires in Los Angeles impacting spending. Auto dealers experienced a 2.8% drop, with furniture and garden stores also affected. Despite steady hiring and wage growth,

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.

Retail sales fell 0.9% in January, the steepest drop in nearly two years, as consumers were held back by California wildfires, unusually frigid conditions, and uncertainty around the outlook for tariffs.