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U.S. consumers loosen purse strings as holidays start

December 11, 2015 | By | Reply More

A shopper takes part in Black Friday sales at a Target store in ChicagoU.S. consumers showed some muscle in November at the start of the holiday shopping season, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade. The outlook for consumer spending, which accounts for more than two-thirds of economic activity, got a lift from other data on Friday showing consumer sentiment nudged up in early December. Not that there is much doubt any more, but this supports the case for a rate hike by the Fed next week," said Steve Murphy, U.S. economist at Capital Economics in Toronto.



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