Here Comes The Hangover: February Retail Spending Hits A Brick Wall After January Splurge

Three weeks ago - when looking at the latest card (credit and debit) spending data- we cautioned that the January retail sales report would "shock" by coming in red-hot, and would be the biggest jump in more than two years ...

... and that's precisely what happened, when retail sales printed exactly as we previewed, surging by 3.0% in January, the most since March 2021...