After October’s data GDPNow for Q4 was at 9.7%, after November’s data it was at 7.1%, after December’s data it’s at 5%…..that shows growth slowing in real-time; Growth/Value rotation continues

The estimated consumption growth rate fell from 7.9% to 2.0%.

— Eric Basmajian (@EPBResearch) January 14, 2022

Growth/Value rotation continues.
h/t @thedailyshot pic.twitter.com/GzkwZAF4Oj

— Lance Roberts (@LanceRoberts) January 14, 2022

QT is coming pic.twitter.com/t1F6Xz0QXq

— Lance Roberts (@LanceRoberts) January 14, 2022

Retail sales dropped 1.9% in December as higher prices caused consumers to curb spending

Retail sales declined 1.9% in December, much worse than the forecast for a 0.1% drop.
Weak online sales were responsible for much of the slide along with a fall in spending at bars and restaurants.
Import prices declined on the month, the first decrease since August.