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Retail sales rose at healthy pace last month in latest sign of US economy's health
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Shoppers pass by electric bicycles on display in a Cabela's sporting goods store Sunday, Dec. 8, 2024, in Lone Tree, Colo. - photo by AP Photo/David Zalubowski
WASHINGTON (AP) — Consumers stepped up their spending at retail stores last month, providing a boost to the economy in the early phases of the winter holiday shopping season. Retail sales rose 0.7% in November, the Commerce Department said Tuesday, a solid increase and higher than October's 0.5% gain. The boost in spending underscores that the economy is still growing at a healthy pace even with higher interest rates, a trend that could cause the Federal Reserve to lower borrowing costs more slowly next year than they have previously signaled.