Retail sales in the US contracted 0.9% month-over-month in January 2025, much worse than forecasts of a 0.1% drop, and following an upwardly revised 0.7% gain in December.
It is the biggest decline in retail sales since March 2023, with severe weather and LA fires weighing on consumer spending. Sales at sporting goods, hobby, musical instrument, & book stores (-4.6%) recorded the biggest decline, followed by motor vehicles and part dealers (-2.8%); nonstore retailers (-1.9%); furniture (-1.7%); building material & garden equipment (-1.3%); clothing (-1.2%); health and personal care (-0.3%) and food and beverages (-0.1%). In contrast, sales rose at gasoline stations (0.9%); food services & drinking places (0.9%); general merchandise stores (0.5%) and miscellaneous store retailers (0.2%).
Meanwhile, sales excluding food services, auto dealers, building materials stores and gasoline stations, which are used to calculate GDP, decreased 0.8%. Retail sales data is not adjusted for inflation.
Source: Trading Economics
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