Events

Americans ramped up retail spending a strong 1.7% last month

today11/16/2021 8

Background
share close

WASHINGTON (AP) — Americans sharply boosted their spending last month, pushing up retail sales and giving the economy a lift.

Much of the gain reflected the fact that shoppers are also paying higher prices. Retail sales rose a seasonally adjusted 1.7% in October from September, the U.S. Commerce Department said Friday. That’s up from 0.8% in the previous month.

Solid hiring, strong pay raises, and healthy savings for many households are underpinning robust spending by U.S. consumers.

 

Source: AP – All contents copyright 2021 Associated Press. All rights reserved.

 

Written by: Editor

Rate it

0%