CITI: Our proprietary credit-card data shows “overall spending in Jan (-5.7%) was the weakest month since Apr 2020 (-10.7%)

CITI: Our proprietary credit-card data shows “overall spending in Jan (-5.7%) was the weakest month since Apr 2020 (-10.7%) .. No matter how you slice it, spending in the categories we track has weakened in the post-Holiday period, .. consumers need a good reason to spend..”

Sectors with accelerating trends: Jewelry; electronics

Sectors with the flattest trends: Sporting goods; Department Stores

Sectors with decelerating trends: Mass, Dollar and off-price; household appliances; home improvement; pet shops; footwear; apparel; cosmetics; home furnishings; food retail and wholesale clubs; ecom