U.S. retail sales dropped by the most in nearly two years in January, likely because of frigid temperatures and moderation following hefty gains in the past four months, suggesting a sharp slowdown in economic growth early in the first quarter.

U.S. retail sales dropped sharply last month, in part because cold weather kept more Americans indoors and dented sales at car dealers and most other stores.

Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday.