Retail sales slumped 0.9% in January, down much more than expected
- Retail sales fell by 0.9% in January, marking the biggest decline in a year, according to the Commerce Department.
- The decline is attributed to cold weather and disruptions from devastating fires in Los Angeles, which impacted consumer spending.
- David French from the National Retail Federation warned that higher import tariffs could raise prices for consumers and disrupt supply chains.
- Retail chains like Joann are closing underperforming stores amid rising costs and consumer confidence issues, with Joann filing for Chapter 11 bankruptcy protection again.
Insights by Ground AI
Does this summary seem wrong?
41 Articles
41 Articles
All
Left
8
Center
10
Right
4
Coverage Details
Total News Sources41
Leaning Left8Leaning Right4Center10Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 36%
C 45%
R 18%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage