Consumers Resume Optimistic Spending ; Lift Retailers' Spirits for Holidays

Summary

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Consumer confidence snapped back after the election, and retail spending was strong for a second straight month - signs that shoppers, the stalwarts of the economy, are shrugging off high energy prices and moving on.

Consumer sentiment early this month rebounded strongly from a three-month slump, according to a measure published by the University of Michigan yesterday, after reports of accelerating job growth and an unexpectedly smooth resolution of the hard-fought presidential contest.

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Consumers Resume Optimistic Spending ; Lift Retailers' Spirits for Holidays

Even before consumers breathed a sigh of relief that the election was over, they had stepped up spending on everything from food, clothing and cosmetics to eating out at rest...

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