A gauge of U.S. consumer spending rose solidly in November as the holiday shopping season got off to a fairly brisk start, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade.
The Commerce Department said on Friday retail sales excluding automobiles, gasoline, building materials and food services increased 0.6 percent after an unrevised 0.2 percent gain in October.
These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.
