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AZ Central

Holiday shopping season weakest since 2008

December 26, 2012

WASHINGTON -- U.S. shoppers spent cautiously this holiday season for the worst year-over-year performance since 2008, a disappointment for retailers who slashed prices to lure people into stores and now must hope for a post-Christmas burst of spending. Sales of electronics, clothing, jewelry and home goods in the two months before Christmas increased 0.7 percent compared with last year, according to the MasterCard Advisors SpendingPulse report, the first major snapshot of holiday retail sales.

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