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US retail sales drive economic recovery

12-15-2010 08:34 BJT

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For the first time since the recession ended, American consumers are contributing to the economic growth in a real way. For the fifth month in a row, retail sales data has risen.

Total retail sales increased 0.8 percent in November, STRONGER than expected. The holiday shopping season is going SO well that the National Retail Federation, just raised its holiday spending forecast. Spending on clothing and accessories, was buoyed by a 2.7 percent rise, the last increase since March.

A 4 percent jump in gasoline station receipts, also lifted the overall sales count. The sales data fits in with a string of recent reports, suggesting the US recovery is strengthening. Economists, expect the tax deal, struck last week by the Obama administration, AND Republican lawmakers, will boost spending next year, keeping growth, on an upward trajectory.

Editor:Zhang Jingya |Source: CNTV.CN

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