U.S. Shoppers Cut Back in January.

U.S. retail sales experienced a larger-than-expected decline of 0.8% in January compared to the previous month, following a strong round of holiday shopping in December. Excluding auto sales, retail sales were down 0.6%, contrary to economists' expectations of an increase. While technical factors and adverse weather conditions may have contributed to the weakness, a decrease in consumer spending could indicate a weaker outlook for economic growth in 2024. However, other indicators such as the strong January jobs report suggest that the fundamentals for consumers remain solid. [Extracted from the article]