Defying inflation, Americans ramped up spending last month
In this Dec. 10, 2020 file photo, a woman carries shopping bags in New York. The National Retail Federation expects that holiday sales gain could shatter last year’s record-breaking season even as a snarled global supply chain slows the flow of goods and results in higher prices for broad range of items. The nation's largest retail trade group said Wednesday, Oct. 27, 2021 it predicts that sales for the November and December period will grow between 8.5% and 10.5% to $843.4 billion and $859 billion. (AP Photo/Mark Lennihan, File)
By CHRISTOPHER RUGABER and ANNE D'INNOCENZIO
Associated Press Writers
WASHINGTON — Many Americans have taken a darker view of the economy as inflation has worsened. Yet so far, they appear no less willing to spend freely at retailers — an encouraging sign for the crucial holiday shopping season...
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