Retail and food sales made their largest monthly drop in January since March 2023, marking an end to the buying surge that took off in the run-up to the 2024 election. Sales fell by 0.9 percent to

January retail and food service sales fell a seasonally adjusted 0.9 percent from December, according to the Census Bureau's monthly tally. While the month was expected to be soft - impacted by wildfires in California and wintery weather in the south - the decline still surprised economists,

U.S. retail sales dropped by the most in nearly two years in January, likely weighed down by frigid temperatures, wildfires and motor vehicle shortages, suggesting a sharp slowdown in economic growth early in the first quarter.