00:00U.S. consumers came roaring back in August with retail sales jumping 1.2% after a revised 0.5
00:06%
00:07decline in July. The increase was significantly stronger than economists expected, with spending
00:13also rising 1.1% when gas stations are excluded. Food services, electronics and sports and
00:19recreation were among the stronger category, suggesting consumers are still opening their
00:23wallets despite elevated prices. The rebound comes as the Federal Reserve raises interest rates to
00:29pool inflation, putting the resilience of consumer spending under a closer spotlight.
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