Dubai-Mubasher: U.S. consumer spending rose in November, suggesting enough momentum in the economy for the Federal Reserve to raise interest rate next week for the first time in nearly a decade.
Producer prices increased last month as services cost more, but the underlying trend continued to point to weak inflation pressures, official data showed.
Retail sales excluding automobiles, gasoline, building materials and food services increased 0.6% after gaining 0.2% in October, the Commerce Department said.
