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Updated Dec. 14, 2023 10:38 am ET
Consumers showed unexpected strength at the start of the holiday shopping season, suggesting Americans are well-positioned to support continued economic growth.
Retail sales, which include spending at stores, restaurants, dealerships and online, rose a seasonally adjusted 0.3% in November from the month before, the Commerce Department said Thursday. That was a rebound from October’s downwardly revised 0.2% decline and a surprise to economists who had expected sales to fall again last month.
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