"Strong US Economy: Retail Sales Exceed Expectations, Layoffs Remain Minimal"

US retail sales unexpectedly rose in November, signaling consumer resilience and alleviating fears of a recession. The increase in sales, driven by deep discounting and lower gasoline prices, suggests that the economy will continue on a moderate growth path this quarter. The strong labor market and higher consumer spending also cast doubts on expectations for a rate cut by the Federal Reserve. Economists now predict that fourth-quarter consumer spending could grow by as much as a 2.75% annualized rate, contributing to GDP growth. The economy remains supported by a robust labor market, with low layoffs and steady job creation.