Solid US Consumer Spending in August Underscores Economy's Resilience

U.S. consumer spending increased slightly more than expected in August as households went on vacation and dined out, keeping the economy on solid ground as the third quarter progressed, while inflation continued to steadily pick up.

The report from the Commerce Department on Friday suggested the economy has so far retained most of its momentum from the April-June quarter. Signs of the economy's resilience evident in other data this week showing low layoffs and strong demand by businesses for equipment would argue against the Federal...

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