#USRetailSalesMissForecast Core retail spending the biggest driver of U.S. GDP, fell −0.1% in December, the weakest reading in 8 months. $PIPPIN
Spending declined across clothing, furniture, electronics, and auto dealers during the holiday month and only a few categories like building materials and sporting goods saw gains.
Lower income households are cutting back the most as budgets tighten and essentials take a bigger share of spending. $MON
Wage growth slowed to around 0.7% in Q4, the weakest pace since 2021. Since this retail data feeds straight into GDP, the drop signals weakening consumer demand and slower economic growth. $FHE