Article snippet: After a summer dip, consumer spending has roared back to life heading into the holiday shopping season, giving the stock market a boost and fending off recession fears with less than a year until the 2020 elections. The improving economic picture could be a boon for MORE, who has made the economy a central argument for his reelection. Recent economic data stands in contrast to just a few months ago, when economists were worried that consumer spending would be the next shoe to drop after manufacturing hit a slump and as investment was in the midst of contracting. The tumultuous summer was also marred by a rocky stock market, escalating trade tensions with China and repeated warning signs from the bond market that a recession could be on the 2020 horizon. By the time fall rolled around, analysts were forecasting flat or even decreasing sales for Halloween, a further sign of declining consumer sentiment. But sales beat expectations, raising prospects for the all-important holiday shopping season. “Consumers are in good financial shape and willing to spend a little more on gifts for the special people in their lives this holiday season,” said National Retail Federation President and CEO Matthew Shay. Consumer confidence has also bounced back, according to a daily tracking poll by Morning Consult. The survey found consumer sentiment on the rise for four consecutive weeks, with Americans feeling better about how the economy is doing right now and where it is headed. “C... Link to the full article to read more