The U.S. Consumer Is Starting to Freak Out

The engine of the U.S. financial system—consumer spending—is beginning to sputter.

Retail purchases have fallen in three of the previous 4 months. Spending on companies, together with lease, haircuts and the majority of payments, was flat in December, after adjusting for inflation, the worst month-to-month studying in almost a 12 months. Sales of current properties within the U.S. fell last year to their lowest stage since 2014 as mortgage charges rose. The auto business posted its worst sales year in additional than a decade.