• A shopper carries Macy's Inc. shopping bags in San Francisco, California, U.S., on Monday, Dec. 26, 2016. Photographer: David Paul Morris/Bloomberg Photo: David Paul Morris / © 2016 Bloomberg Finance LP

Houston’s year-over-year consumer spending dropped 2.59 percent in January, according to a report released Thursday by the JPMorgan Chase Institute.

The January decline was more steep than that in December, when consumer spending in Houston dropped 1.97 percent.

All 15 of the U.S. cities analyzed had lower year-over-year consumer…