U.S. retail sales dropped sharply last month, in part because cold weather kept more Americans indoors, denting sales at car dealers and most other stores. Retail sales fell 0.9% in January from the previous month,

U.S. retail sales dropped by the most in nearly two years in January, likely because of frigid temperatures and moderation following hefty gains in the past four months, suggesting a sharp slowdown in economic growth early in the first quarter.

The advance report for retail sales plummeted by 0.9 percent for January, offset only modestly by upward revisions to prior months. Read more here.