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Retail sales ready to rise on cheap gas
Shoppers are ready to spend this spring thanks to a precipitous decline in gas prices and an expectation that prices will stay low.
A new study suggests that most Americans are optimistic about the economy, thanks to the continuing slide in gas prices. A survey of gas consumers found that 57% of Americans are optimistic, including nearly two-thirds (65%) of those ages 18-34.
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Shoppers push holiday sales up 4%
Confident consumers stocked up on gifts and other merchandise over the 2014 holiday season, helping boost overall holiday retail sales to their highest level since 2011.
According to the National Retail Federation, December retail sales, which exclude automobiles, gas stations and restaurants, decreased 0.9% seasonally adjusted month-to-month, and 4.6% unadjusted year-over-year. The significant drop in gasoline prices in the month of December brought down much of the month-to-month growth.
