U.S. retail sales accelerate in strong boost to economy

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales surged in October, likely as Americans started their holiday shopping early to avoid empty shelves amid shortages of some goods because of the ongoing pandemic, giving the economy a lift at the start of the fourth quarter. The solid report from the Commerce Department on Tuesday suggested high inflation was not yet dampening spending, and added to strong employment growth in October and an acceleration in services sector activity in painting an upbeat picture of the economy after it grew at its slowest pace in more than a year in the t…

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