Retail sales jump as Americans defy inflation and rate hikes
Shoppers pass an large L.L. Bean boot displayed outside an L.L. Bean store in Pittsburgh on Monday, Jan. 30, 2023. On Wednesday, the Commerce Department releases U.S. retail sales data for January. (AP Photo/Gene J. Puskar)
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON — America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy's resilience in the face of higher prices and multiple interest rate hikes by the Federal Reserve....
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