Get ready for a spending slowdown this holiday season

American shoppers continue to defy gravity against the backdrop of persistently elevated inflation. Retail sales surged by 1.3% in October. That’s the biggest monthly gain since February and better than the 1% economists had expected.

​American shoppers continue to defy gravity against the backdrop of persistently elevated inflation. Retail sales surged by 1.3% in October. That’s the biggest monthly gain since February and better than the 1% economists had expected.