US Consumer Spending Rises in November Amid Economic Resilience
Key Points Strong demand drove November's increase in U.S. consumer spending, which rose 0.4%. Core inflation rose 0.1%, marking the smallest monthly increase since May. The U.S. economy grew at a 3.1% annualized rate in the third quarter. Labor market strength and wage growth are supporting consumer spending. The Federal Reserve cut interest rates and forecast fewer reductions in 2025. According to the Commerce Department, consumer spending in the United States increased by 0.4% in November, reflecting strong demand for...
