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WASHINGTON, Nov 24 (Reuters) - U.S. consumer spending increased more than expected in October as households bought motor vehicles and a range of other goods, showing no signs yet of holding back because of high inflation, and boosting the economic outlook early in the fourth quarter.

The Commerce Department said on Wednesday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.3% last month after rising 0.6% in September. Spending was partially boosted by higher prices as demand continues to outpace supply.

Economists polled by Reuters had forecast consumer spending advancing 1.0%.

Global economies' simultaneous recovery from the COVID-19 pandemic, fueled by trillions of dollars in relief money from governments, has strained supply chains, unleashing inflation.

 

 

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22 minutes ago, commando said:

if this is a disaster....please give us more

 

https://news.trust.org/item/20211124144203-brx3i/

 

U.S. weekly jobless claims hit 52-year low, economy regaining speed

Noice!

 

The only thing I worry about and worry is a bit strong of a word, is if prices of stuff will go back down.  Beef is and has been crazy high.  Fast food prices keep climbing.  Thank god cheap vodka is still cheap.

 

 

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