WASHINGTON (Jan 22): US consumer spending increased solidly in November and October, likely keeping the economy on track for a third straight quarter of strong growth. Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.5% after rising by the same margin in October, the Commerce Department's Bureau of Economic Analysis said on Thursday. Economists polled by Reuters had forecast consumer spending increasing 0.5% in November. The economy is being mostly driven by consumer spending and a shrinking trade deficit as President Donald Trump's sweeping tariffs curb imports. The government was unable to collect most of the data to compile the Consumer Price Index report for October.

Source: The Edge Markets January 22, 2026 15:30 UTC