U.S. economy slightly healthier, Fed says

American consumers spent their money in November at the slowest rate in five months, as sales at U.S. retailers increased a seasonally adjusted 0.2 percent in November, the Commerce Department reported. Excluding the volatile automobile sector, sales also rose 0.2 percent. The biggest winners in November were electronics retailers, whose sales jumped 2.1 percent as consumers snapped up new mobile phones, tablet computers, electronic-book readers and high-definition televisions.

RETAIL SALES

American consumers spent their money in November at the slowest rate in five months, as sales at U.S. retailers increased a seasonally adjusted 0.2 percent in November, the Commerce Department reported. Excluding the volatile automobile sector, sales also rose 0.2 percent. The biggest winners in November were electronics retailers, whose sales jumped 2.1 percent as consumers snapped up new mobile phones, tablet computers, electronic-book readers and high-definition televisions.

The Federal Reserve on Tuesday portrayed the U.S. economy as slightly healthier and held off on any new steps to boost the economy. Hiring is picking up and consumers are spending more despite slower growth globally, the Fed said in its latest policy statement. Fed officials cautioned that unemployment remains high and warned of strains in global financial markets that pose a threat to the world's economy — a reference to Europe's debt crisis. Other economic reports released Tuesday confirmed the Fed's statements, showing some improvements mixed with continued struggles. — Times wires

U.S. economy slightly healthier, Fed says 12/13/11 [Last modified: Tuesday, December 13, 2011 10:43pm]

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