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[ad_1] Consumer spending will be merry and bright this holiday season, economists predict - CBS News Watch CBS News After a period of high inflation, the U.S. has received some good economic news in time for the holidays. Gas prices and mortgage rates have dipped, and job growth remains steady. For many shoppers, it will translate to more holiday spending. Joy Benedict has more. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On [ad_2] Source link https://worldnews2023.com/economy/consumer-spending-will-be-merry-and-bright-this-holiday-season-economists-predict/?feed_id=283542&_unique_id=65e0f1c70cbb8

[ad_1] Last Updated: July 11, 2023, 01:20 IST United States of America (USA) The U.S. Labor Department reported last Friday the smallest monthly job gain in 2-1/2 years along with strong wage growth. (Photo: Reuters) Oil prices ease on US interest rate hike concerns, but supply cuts from Saudi Arabia and Russia limit losses. CPI data and China reports to impact market Oil prices eased 1% on Monday on the increasing likelihood of more U.S. interest rate hikes, but crude supply cuts from top oil exporters Saudi Arabia and Russia limited the losses. Brent crude futures settled down 78 cents, or 1%, at $77.69 a barrel after touching their highest level in more than two months earlier in the session. US West Texas Intermediate crude fell 87 cents, or 1.2%, at $72.99. “Traders are very nervous about higher interest rates, which could kill demand very quickly," said Dennis Kissler, senior vice president of trading at BOK Financial, adding that some investors were also engaging in