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SOURCE The Conference Board
Value-Driven Spending Remains Selective
NEW YORK, Jan. 14, 2014 /PRNewswire/ -- Consumer spending, while selective, is gaining traction. While the headline increase of only 0.2 percent in December was on the weak side, the core retail sales were up a firmer 0.7 percent. Despite the weather-dampened job advance in December, job growth on average has been solid. Rising household wealth from improving housing and stock markets fed the upscale market. There might be a falloff in retail sales growth in January, but that has more to do with inclement weather, and will likely be followed by a recovery in February. The resilient American shopper is likely to spend increased wages in the first half of 2014 – on replacement furniture and household appliances, even if they are not on sale. And that could be the big economic story for the entire first half of 2014.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org
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