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Spending Was Strong Heading into Omicron, and Will Be After
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Americans kept spending last month, which is a plus for the economy. But how they spent matters more.
The Commerce Department on Thursday reported that consumer spending rose a seasonally adjusted 0.6% in November from October and also revised its October spending figures higher. Even after taking into account how worries about the Omicron variant are now depressing some activity, it looks as if the economy will put in a very strong fourth-quarter performance.
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