1.
Consumer Corner: Foreclosure settlement no magic bullet for economy
WASHINGTON, Dec. 23 (UPI) -- Retail sales in the United States rose sharply in the week ending Dec. 20, the International Council of Shopping Centers-USB reported Tuesday.
Sales were up 2.6 percent on the week but down 0.6 percent compared with a year ago, the report said.
Traffic was "relatively strong" during the week, "especially at department stores" the report said.
Sales held up in spite of a convincing blast of chilly, winter weather. The national average temperature for the week was 2.7 degrees Fahrenheit lower than the same week a year ago, ICSC said.
The week also included "record snowfall for the most critical week of the holiday shopping season with heavy snow out West ... and throughout the northern half of the country," ICSC said.
But, demand for merchandise held up with one-third of consumers reporting they purchased fewer gift cards and more gifts this year, "due to hefty pre-Christmas discounts," the report said.
|
|
|
| Additional Business News Stories | |
PORTLAND, Maine, Feb. 13 (UPI) --
So-called tar sands oil from Canada is "much, much worse" for the environment than conventional crude oil, a Maine environmental advocate said.
|
SAINT-LAURENT, Quebec, Feb. 13 (UPI) --
The Canadian coast guard has picked Thales Canada for the supply and installation of helicopter tracking systems aboard 22 aircraft and 17 ships.
|
Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
|
Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
|
| Stories | Photos | People | Comments |
View Caption
