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Daily Digit: Sales up 5.2% in 2012

Tuesday, January 15, 2013 - 00:53

Jan. 15 - U.S. retail sales were up 5.2 percent in 2012 and rose solidly in December as Americans shrugged off the fiscal cliff drama and went shopping. Conway G. Gittens reports.

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The Daily Digit today is 5.2. U.S. retail sales were up 5.2% in 2012, and ended the year with a bang as Americans shrugged off the threat of higher taxes and bought cars, furniture and clothes. Internet spending was also a bright spot. The gains could be another good sign for fourth-quarter growth. Despite an uptick in first-time applications for jobless claims, the labor market continues to grow at a moderate pace, which supports consumer spending. Also, the economy has been showing some muscle in other sectors, which could put consumers in a relatively good shopping mood... factory activity, government spending, and a rise in exports are all factors pointing to modest economic growth. But higher taxes which kicked in this month and a looming fight over raising the debt ceiling could put a dent in spending as the year begins.

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Daily Digit: Sales up 5.2% in 2012

Tuesday, January 15, 2013 - 00:53