Retail sales slumped 0.9% in January, down much more than expected
1. Consumer spending fell 0.9% in January, indicating economic weakness. 2. Retail sales were worse than expected, down from 0.7% in December. 3. Key sectors like sporting goods and online sales declined significantly. 4. Inflation rose 0.5%, impacting real consumer spending. 5. Consumer spending accounts for two-thirds of U.S. economic activity.