Consures Sharply Curtailed Their Spending in January, Indicating a Potential WeaKening in Economic Growth Ahead, According to a Commerce Department Report friday.
Retail sales Slipped 0.9% for the month from an upwardly revised 0.7% Gain in December, even subject than the down down the downs estimate for a 0.2% decline. The sales totals are adjusted for seasonality but not inflation for a month in which price rose 0.5%.
Excluding autos, price fell 0.4%, also well off the consensus forecast for a 0.3% increase. A “Control” Measure That Strips Out Several Nonessational Categories and Figures directly Into Calculations for Gross Domestic Domestic Product Fell 0.8% AFTER AFTER AFTER AFTER AFTER AFTER AFTER AFTER AFTER AFTER AFTER ANVOREASE
With Consumer Spending Making Up About Two-Thirds of All Economic Activity in the Us, The Sales Numbers Indicate a Potential Weeking in Growth for the first quality.
Receipts at Sporting Goods, Music and Book Stores Tumbled 4.6% on the month, while online outlets reported a 1.9% decline and motor vehicles and parts spending dropped 2.8%. Gas stations along with food and drinking establishments both 0.9% Increases.
Stock market futures Held in Slightly Negative Territory Folling The Release While Treasury Yields Lost Ground. Traders raised bets that the federal reserve count cuts rates again as June as June.
“The Drop was dramatic, but several mitigating factors show there’s no cause for alarm. Insen herself, “said Robert frick, corporate economist with navy federal credit union. “Especially considering December was revised up strongly, the rolling average of consumer spending remain solid.”
Inflation remains ahead of the fed’s 2% Goal. The consumer price index Posted A 0.5% Gain in January and Showed a 3% Annual Inflation Rate. However, the producer price indexA Proxy for Wholesale Prisies, Showed Some Softening in Key Pipeline Inputs.
In other Economic News Friday, The Bureau of Labor Statistics Reported that Import Pries Accelerated 0.3% in January, in line with expectations for the largest one-month move since April 2024.
Fuel prices increase 3.2% on the month, also the biggest Gain Since April 2024.
Export Pries also increase, rising 1.3%.
(Tagstotranslate) retail industry
