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The Boston Globe


Consumers shrug off fiscal cliff as spending rises

Consumers are not so worried about the fiscal cliff and political uncertainty in Washington that they are staying away from stores.

The Commerce Department reported Friday that consumer spending rebounded in November, up 0.6 percent after falling 0.2 percent in October. It was the biggest monthly increase in more than three years. Increased spending in the weeks after Hurricane Sandy struck the East Coast helped drive the results, as did higher personal incomes last month. “People may be cautious, but it’s not really showing up in holiday sales — not that much,” said Chris G. Christopher, an economist at IHS Global Insight, a Lexington forecasting firm. “They’re not as strong as last year, but these are still strong numbers.”

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