Shoppers spent less at restaurants and bars in November and didn't buy as many clothes and sporting goods as they had the month prior, according to the latest advance estimates from the Commerce Department.
The big picture: Strong consumer spending largely acted as the U.S. economy's backbone for the past two quarters and much of 2018. The Federal Reserve ended its interest rate-cutting streak on Wednesday, signaling confidence that the economy doesn't need easier borrowing conditions to stay afloat.