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WASHINGTON — Americans are earning and spending more, companies are shedding fewer workers, and hopes are rising for the economy as the holiday shopping season starts.
Still, with businesses spending less on manufactured goods and new-home sales near their lowest level in 47 years, consumers alone might not be able to invigorate the economy and drive down unemployment.
All told, government data released the day before Thanksgiving suggest an improving economic picture.
Consumers boosted spending 0.4 percent in October, up from a 0.3 percent increase in September, the Commerce Department reported Wednesday.
The Associated Press
