Golden Finance reported that U.S. consumer spending grew solidly in October, indicating that the economy maintained a strong pace of growth at the beginning of the fourth quarter, but progress in lowering inflation over the past few months appears to have stalled. Data released by the U.S. Commerce Department on Wednesday showed that consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4% last month, while September's growth was revised up to 0.6%. Low unemployment has largely supported consumption, with additional help from strong household balance sheets driven by a rebound in the stock market and high house prices. In addition, household savings remain high. Economists generally expect the holiday shopping season to be quite good, although prices remain high.