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LATEST US DATA

October consumer spending up on oil price dip

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Extremely low petrol prices as well as a strengthening labour market are supporting consumer spending, which should help to shield the economy from slowing growth in China and the eurozone, as well as a recession in Japan.

Washington

CONSUMER spending rebounded in the United States in October, suggesting some resilience in the economy at the start of the fourth quarter.

The Commerce Department said on Wednesday that consumer spending increased 0.2 per cent last month after being flat in September.