In January, U.S. consumer outlook saw a significant rise in the University of Michigan Consumer Sentiment Survey, with sentiment up by 21.7%, the highest since July 2021. Consumer credit continues to climb, hitting another record high of $17.5 trillion. Retail sales rose slightly but below the rate of inflation, with food and dining one of the bright spots (again) showing a notable increase. However, hard goods, sporting goods, electronics, and department stores segments were big decliners in January.

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