US consumer spending rebounds

Washington: US consumers had fatter wallets in November and spent more freely at the start of the all-important holiday shopping period, rebounding after an October scare, government data showed.

Meanwhile, inflation remained tame in the world´s largest economy, giving shoppers more purchasing power and reenforcing the Federal Reserve´s decision this month to leave benchmark interest rates unchanged.While markedly slower than at the start of 2019, the latest Commerce Department data should support GDP growth in the final quarter of the year, as the recession fears of late summer continue to fade.

Low unemployment and steady wage gains help the working public maintain spending on retail goods and services, which accounts for the lion´s share of US economic activity.