Commerce Department (Discontinued from 10th January 2023)

Personal spending increased 0.1% in November from the prior month, the Commerce Department said Friday, compared with an upwardly revised 0.9% increase in October. Households boosted spending on services last month while cutting spending on goods, including autos. The personal-consumption expenditures price index—the Fed’s preferred gauge of inflation—rose 5.5% in November from a year earlier, a significant cooling from 6.1% in October. The core PCE-price index, which removes volatile…

The Chinese Commerce Ministry has issued a statement urging the U.S. to take steps to put trade between the U.S. and China on normal footing. Photo: Costfoto/Zuma Press…