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November Sales Dropped

Benzinga

1 Views • Dec 16, 2022

Description

U.S. retail spending fell 0.6 percent in November from the prior month, according to the Commerce Department. Meanwhile, manufacturing output declined 0.6 percent, according to the Federal Reserve in a separate report. As the Fed continues its aggressive approach to interest rate hikes, consumers are cutting back on holiday-related purchases, home projects, and autos. While inflation has eased over the course of the year, the labor market remains tight.

Keywords & Tags

#inflation #economics #business #Federal Reserve #interest rates #Commerce Department #GDP #FED #bear market #government #slowdown #rate hike #holiday spending #finance #Retail Sales Manufacturing Slowed in November #U.S. retail spending fell #aggressive approach to interest rate hikes

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