Undersea & Outer Space - Risk & Reward

Retail sales declined 0.8% in January. That was much worse than the 0.1% decline expected. It was a notable slide from December's 0.4% monthly increase. After a strong Holiday spending season, a slowdown in January is pretty customary. This one was obviously bigger. Building materials and supplies saw the biggest decline, down 4.1% in January. Furniture sales grew. Bars and restaurants continue to see increases. That's been a consistent theme. Americans have been out and about with a vengeance. Covid triggered the fierce rebound in activity and consumption. It hasn't slowed.