Wednesday's robust retail sales figures, along with a strong January job report, suggest that the economy remains durable, perhaps even strengthening, and at little risk of succumbing to a recession anytime soon.
WASHINGTON — America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy's resilience in the face of higher prices and multiple interest rate hikes by the Federal Reserve.
Driving the gain was a jump in car sales, along with healthy spending at restaurants, electronics stores and furniture outlets. Some of the supply shortages that had slowed auto production have eased, and more cars are gradually moving onto dealer lots. The enlarged inventories have enabled dealers to meet more of the nation's pent-up demand for vehicles.
People are also reading… Brisk consumer spending, though, can also intensify upward pressure on inflation. The latest measure of consumer inflation showed it declined slightly on a year-over-year basis in January but rose sharply from December to January.
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