Consumers Hold on Discretionary Spending

Retail sales in October dropped for the fourth consecutive month. Sales dropped 1.3 percent in September, but in October the numbers fell a whopping 2.8 percent. Experts predicted a 2.1 percent drop, but job losses and a worsening economy have proven that consumers are aggressively cutting back as we head into the holiday season – and push us ever closer to recession status.

Source:

CNNMoney Retail Sales Suffer Record Drop

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