Severe Winter Storms Impact U.S. Economic Indicators: Jan-Feb 2026

Severe winter storms across the U.S. from January to February 2026 depressed economic activity, pushing up natural gas prices and affecting auto and retail sales. The Energy Information Administration reported the largest natural gas inventory drawdown since 2010 in the week ending January 30, 2026, with wholesale prices up 81% in January and forecasts for 2026 up 25% higher than previously estimated. Vehicle sales fell to a three-year low in January, likely due to reduced travel and test-driving during storms. Economists predict a -3% drag on housing construction in the first quarter and potential volatility in broader GDP, but a rebound is expected in February and March unless additional severe cold or storms develop.