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Survey: Gas prices impacting spending

New York City -- Shoppers plan to wait until next year and beyond to spend generously again, a survey on Monday showed, in an early sign that rising gasoline prices could make the spring selling season tough for retailers, Reuters reported.

About three-quarters of Americans surveyed by America's Research Group said they were shopping less due to rising gas prices, with more than 62% of the participants planning to spend generously only next year or beyond.

This spring, more Americans plan to stretch their dollars by shopping at discount chains rather than the pricier department stores and specialty chains, the survey showed, with 753 out of 1,000 survey participants picking discounters as potential shopping destinations for spring.

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