US Retail Sales Dropped , More Than Expected in January.<br />On Feb. 15, the Commerce Department reported that retail sales fell 0.8% for the month, halting a two-month increase streak.<br />The percentage was significantly <br />lower than economists' forecasts <br />of a 0.1% decline, CNN reports. .<br />Cold weather likely contributed to declines at gas stations and home improvement stores, which fell 1.7% and 4.1%, respectively.<br />Online sales dipped 0.8%. .<br />However, bar and restaurant <br />sales increased 0.7%.<br />High interest rates and inflation continue to squeeze many Americans, CNN reports. .<br />But the job market remains steady.<br />Even though January's sales report <br />was worse than expected, there's only <br />been two declines over the last 10 months. .<br />This weakness typically reverses quickly <br />as weather returns to normal and <br />people catch up on spending plans <br />delayed by the cold and snow, Bill Adams, chief economist at Comerica Bank, via CNN.<br />The Fed is likely to look through <br />one month’s weak retail sales <br />report, especially since there is <br />an obvious explanation from <br />a clearly temporary issue, Bill Adams, chief economist at Comerica Bank, via CNN
