Posted 2/15/2024, 5:11:17 PM
US Economy Shows Signs of Faster Slowdown As Retail Sales, Factories Stumble
- US retail sales fell 0.8% in January, much more than expected, indicating a sudden consumer slowdown
- Industrial production also declined 0.1% in January, missing forecasts of a 0.2% rise
- The declines suggest the robust US economy may be weakening more than anticipated
- This could bring forward expectations for when the Fed will stop raising rates and start cutting
- Equity markets may initially welcome the news as postponing monetary tightening, but slower growth is a concern for the economic outlook