Credit- and debit-card data point to slower spending
A report on February retail sales will show whether Americans pulled back on spending after a strong start to the year, aided by unseasonably warm weather and a strong labor market.
U.S. consumers have shown surprising vigorin early 2023, after their spending weakened late last year. Retail sales, a measure of spending at stores, online and in restaurants, rose by a seasonally adjusted 3% in January, the Commerce Department said. That was the largest monthly gain in nearly two years and came after sales fell in November and December.
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