Americans Are Spending on the Holidays After All

It came with ribbons. It came with tags. It came with packages, boxes or bags. Somehow or other the holiday shopping season came just the same.

The Commerce Department on Thursday reported that retail sales rose a seasonally adjusted 0.3% in November from October. Even factoring in some downward revision to previous sales data, this was better than the reject of 0.1% economists polled by The Wall Street Journal were looking for. It is just the latest indication that, despite the downbeat attitudes Americans profess in polls, a strong job market and continued reserves of savings built up early in the pandemic are giving them the wherewithal to keep shopping.