Spending hits lowest in four years
JACKSONVILLE, Fla. -- The Christmas numbers are in and retailers are reporting the lowest annual spending since 2008.
The two months prior to Christmas did show an increase of 0.7 percent, but it falls far short from the 3 to 4 percent analysts were predicting.
These numbers could affect the 2013 economy. November and December account for 40 percent of annual sales. It's good news for shoppers when retailers offer deep discounts but the lack of profitability will trickle down into next year's economy.
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