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Retail Sales to Suffer in 2009 as U.S. Consumers Curtail Spending
Retail experts are predicting one of the most dismal holiday shopping seasons in decades this year – a crucial stretch that will set the stage for poor retail sales throughout 2009.
As the U.S. economy decelerates, pummeled by the aftershocks of the worldwide financial crisis, consumers have been hit from every direction: Unemployment has spiked, and will continue to rise, economy unwinds and continues to work through the aftershocks of the global credit crisis, consumers have been beset on all sides. Unemployment is up, home prices are down, and credit is hard to come by.
And although inflation is beginning to moderate somewhat…
28Nov2008 | Money Morning | 0 comments | Continued
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