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NRF: Holiday sales won’t be as bad as feared

BY Katherine Boccaccio

Washington, D.C. — The National Retail Federation on Wednesday was quick to shine a more positive light on holiday sales 2012, suggesting that reports of the worst holiday results since 2008 are not correct.

Matthew Shay, president of the NRF, said he’s still predicting a 4.1% increase. "We’re still pretty optimistic it’s going to be a solid year," Shay said Wednesday on CNBC’s "Squawk on the Street." "We’re still going to have year-over-year growth" of 4.1%. But that is down from 5.6% growth last year.

The MasterCard Advisors SpendingPulse, which tracks holiday spending, said Tuesday that sales in the two months before Christmas increased 0.7%, compared to last year. Many analysts had expected holiday sales to grow 3% to 4%. Shay, however, said that the MasterCard survey is limited and doesn’t cover online sales.

Despite the continued optimism, Shay acknowledged that consumer confidence had weakened heading into the holidays following super storm Sandy and the ongoing debate about the "fiscal cliff" of tax hikes and spending cuts that could go into effect early next year.

"We’ve been saying from the beginning this is a cautious and careful consumer, and it wouldn’t take much to knock us off this nice progression," of consumer spending, Shay said.

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J.Bolt says:
Jan-03-2013 06:28 am

People do purchase in holidays and more if its Christmas and New Year round the corner what ever may the economic condition may be.Sales wont be that bad as expected due to recession. _________________________________________________ olive leaf extract

J.Bolt says:
Jan-03-2013 06:28 am

People do purchase in holidays and more if its Christmas and New Year round the corner what ever may the economic condition may be.Sales wont be that bad as expected due to recession. _________________________________________________ olive leaf extract

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Consumer confidence tumbles in December

BY Katherine Boccaccio

Washington, D.C. — A report issued Thursday by the Conference Board said that its consumer confidence index fell sharply in December to 65.1 from 75.1 in November, impacted by fears of tax increases and impending government spending cuts.

The fall in confidence is the second straight decline and the lowest level since August.

The survey showed that consumers are slightly more optimistic about current business conditions and hiring. But their outlook for the next six months deteriorated to its lowest level since 2011.

Lynn Franco, the board’s director of economic indicators, said the decline in expectations for the next six months is a signal that consumers are worried about the "fiscal cliff.”

A separate survey released earlier by the University of Michigan showed consumer confidence fell in December to a five-month low.
The December drop in confidence "is obvious confirmation that a sudden and serious deterioration in hopes for the future took place in December — presumably reflecting concern about imminent ‘fiscal cliff’ tax increases," Pierre Ellis, economist with Decision Economics, wrote in a note to clients.

The Conference Board index has risen from an all-time low of 25.3 touched in February 2009. It remains well below the level of 90 that is consistent with a healthy economy. It last reached that point in December 2007.

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Whirlpool seals deal with Good Housekeeping

BY CSA STAFF

BENTON HARBOR, Mich. — Whirlpool brand’s Whirlpool Gold Gas and Electric Ranges with TimeSavor Convection cooking systems earned the Good Housekeeping Seal from the Good Housekeeping Research Institute.

Whirlpool’s TimeSavor Plus True Convection cooking system and AccuBake temperature management system work together to circulate hot air over, under and around food, which allow the range to cook and bake dishes evenly.

The GHRI was founded in 1900 as the consumer product evaluation lab for Good Housekeeping Magazine. Products that receive the Good Housekeeping Seal are covered by a two-year limited warranty as part of the magazine’s consumer policy.

"Whirlpool brand helps to simplify consumers’ lives and the Good Housekeeping Research Institute has affirmed this by granting the Seal to our line of Whirlpool Gold ranges," said Andrea Smith, product brand manager of Whirlpool brand cooking and kitchen suites. "The intuitive technology in the ranges will not only ensure that your food comes out perfectly every time, but also make time spent in the kitchen shorter."

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