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Shoppers buoyed by easing inflation and strong labor market
Confidence rises as the Fed slows rate hikes to curb inflation while Wall Street recovers. The Nasdaq hits 16 record highs since October and the Dow climbs from a October low though trading wanes. A robust labor market and rising personal income spur holiday spending, with malls posting double digit gains and online sales surging. The Conference Board notes shoppers are confident yet cautious about big purchases. The NFO Research survey of 5,000 households underpins the upbeat mood as retailers report brisk demand for luxury items and electronics.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
Dow
Devontia Crosby
Dallas
Conference Board
Lynn Franco
Board
Consumer Research
International Council of Shopping Centers
Franco
NFO Research Inc
Greenwich
Conn