Tuesday, December 28, 2010

Holiday sales hit pre-recession levels

Retail sales rose 5.5% in the 50 days before Christmas, beating many estimates and reaching levels not seen since before the recession, according to MasterCard Advisors SpendingPulse. Sales were up across the board, with apparel, jewelry and luxury merchandise leading the way. "For the past year or two, when I've seen growth in one area, it seems to come at the expense of another," said SpendingPulse VP Michael McNamara. "Here, things are actually all moving in the right direction."

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