Spending at US retailers rebounded in November after declining in the prior month, pointing to the continued resilience of the US consumer.
Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.3% in November from the prior month, beating economists’ expectations of a 0.2% decline, according to FactSet. Sales declined 0.2% in October for the first time since the spring.
Thursday’s report shows that Americans continue to open up their wallets as inflation eases and the job market remains on strong footing. That’s on the backdrop of the highest interest rates in 22 years and slowing economic growth.
This story is developing and will be updated.
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