Well, the effects of the winter can be: - Damage due to harsh weather causing a net drag on businesses, causing them to be more conservative with spending. -

Well, the effects of the winter can be: - Damage due to harsh weather causing a net drag on businesses, causing them to be more conservative with spending. - All of the store, school, etc closures due to inclement weather. - Even without store closures, many people are less likely to leave their homes (i.e. spend money) when the weather is bad, even if the weather isn't 'snow day' bad. I feel that it's probably unlikely to be entirely due to the weather, but I don't think that we can discount the effects a harsh winter can have.