U.S. retail sales dropped sharply last month, in part because cold weather kept more Americans indoors and dented sales at car dealers and most other stores. Retail sales dropped 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,

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.